Mortgage Payment Calculator Using Rates in Missouri

Bank of Bolivar is a $188,000,000 bank located in Bolivar, Missouri. The bank has four bank branches to serve the banking and mortgage needs of the surrounding region. Use our mortgage calculators with their mortgage rates to help determine the financing and payment options that are best for you

Bank of Bolivar has a wide variety of home mortgage options.  Whether you’re buying a new home, building or remodeling, the bank help you find the best plan for your financial situation.

The bank offers an adjustable rate mortgages where the interest rate and monthly payment varies in direct response to a rise or fall in market rates.  The market rate index determines loan rate.  There is a limit on annual increase or decrease let’s you take advantage of downward trends, yet limits impact of rising rates.  Usually has a lower initial interest rate than conventional or balloon mortgage.  Maximum term is 30 years and there is no prepayment penalty.

There is a fixed rate home loan option.  Fixed interest rate for the life of the loan and uniform payments amortized over term of loan provides fixed payments for long-range planning. No prepayment penalty is this mortgage loan.  And the bank offers competitive market rates minimize the borrowers interest expense.

For clients looking for additional cash for any number of purposes the bank provides home equity closed and open end loans.  The maximum LTV 80%. Advances can be obtained up to specified limit.  No prepayment penalty on these home loan products either.  Longer payment terms with lower monthly payments provide immediate buying power without excessive financial burden.  Interest on home equity loans is tax-deductible in most cases.  No closing cost with 3 relationships with the bank.

The current mortgage rate on the 15 year fixed rate loan is 5.00% with no points and an APR of 5.10%.  Utilizing the mortgage calculator, a the monthly payment on a $100,000.00 loan would be $790.79.

Mortgage calculator recap:
Given a purchase amount of $125,000.00.
A down payment of $25,000.00 (20.00%).
An interest rate of 5.000%,
A term of 15 years.
Your monthly payments will be $790.79.

The current mortgage rate ion a 30 year fixed rate mortgage is 5.25% with no points and an APR of 5.310%.  Utilizing the mortgage calculator, a the monthly payment on a $100,000.00 loan would be $552.20.

Mortgage calculator recap:
Given a purchase amount of $125,000.00.
A down payment of $25,000.00 (20.00%).
An interest rate of 5.250%,
A term of 30 years.
Your monthly payments will be $552.20.

Above APR’s based on $100,000 loan amount, 20% down payment, 30 days interim interest and owner occupied single family property.

For more information about mortgage rates and products or to make an appointment to discuss the mortgage loan programs, call the bank direct at 417-777-6500, 417-759-6500, or 417-616-6600.  Additional mortgage information and mortgage rates are available at the bank website located at www.bankofbolivarmo.com.

Tags: adjustable rate mortgage, mortgage calculator, mortgage rates

This entry was posted on Friday, February 13th, 2009 at 3:21 pm 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.