Mortgage Calculators, Fall River Bank and Mortgage Loans

Established in 1888, the Bank of Fall River is an independent bank with four full-service offices, in Fall River, Fairhaven, and North Dighton/Taunton.  The bank has several home loan programs available that are competitively priced.  The bank has a full range of mortgage options for first-time buyer, existing homeowners moving up to a larger home, or a mortgage loan for investing in a retirement home. 

Current fixed rate mortgage offers include the following 30 year fixed rate and 15 year fixed rate mortgages:

30 year fixed rate mortgage rate is 5.750% with 0 points and an APR of 5.769%
15 year fixed rate mortgage rate is 4.875% with 0 points and an APR of 4.906%

Repayment examples using the posted mortgage rates and the mortgage payment calculator:

30 year fixed, 20% down, 0 points has 360 payments of $5.84 per $1,000 borrowed.
15 year fixed, 20% down, 0 points has 180 payments of $7.84 per $1,000 borrowed.

Other fixed rate mortgage options are available.  The bank offers numerous adjustable rate mortgages including a 30-year term, one-year adjustable rate mortgage.

The 1-year ARM has a rate of 3.500% and an APR of 3.528%.

Using the adjustable rate mortgage calculator, the 30 Year 1 Yr. ARM with 20% down and 0 points has 12 payments of $4.99 per $1,000 borrowed and 348 payments of $4.71 per $1,000 borrowed.

The bank also offers a no closing costs, no application fee, no appraisal fee home loan.

The 30 years no closing cost loan rate is 7.375% and an APR of 7.396%

The mortgage calculator payment results on the 30 year fixed, 20% down, 0 points no closing cost loans comes to 360 Payments of $6.91 per $1,000 borrowed.

All mortgage loans are required to have an escrow account for property taxes.  A waiver of this requirement can be granted, at the bank’s discretion and subject to a higher mortgage interest rate. 

Other mortgage rates with points are also available.  All mortgage rates and terms are subject to change without notice.  Additional conditions to obtain these home loans will apply.  Contact the bank directly to speak with a mortgage originator at 508-678-7655.  The bank website posts current mortgage rates and additional information regarding their loan programs.  The bank’s web address is www.bankoffallriver.com.

For car loan rates visit www.selectautorates.com.  For CD rates and bank rates visit www.selectCDrates.com.

Tags: adjustable rate mortgage, adjustable rate mortgage calculator, first time home buyer, mortgage calculator, mortgage payment calculator, mortgage rates

This entry was posted on Thursday, March 19th, 2009 at 9:25 am and is filed under Mortgage Ads and Promotions. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.