Mortgage Payment Calculator with Iowa Mortgage Rates

In order to preview mortgage rates available in Iowa to input in the mortgage calculator, we sampled the mortgage rates offered by American State Bank in Sioux Center, Iowa.  American State Bank is chartered as a Federal Reserve Non-member bank and has five bank branches in the surrounding area.  The bank was first established in 1913.  American State Bank has a variety of lending and deposit products to offer to meet most consumer needs.

The bank has loan options for home mortgages, consumer loans, commercial loans, agricultural loans, student loans and credit card services.  American State Bank has a wide selection of mortgage loan options for the purchase or refinance of a home.  The bank offers fixed-rate mortgage loans, first time home buyer loans, and variable rate loans, up to 30 years maturity on a single family residential homes, second homes, and investment homes as well as FHA and VA loans.

The banks 30 year fixed arte mortgages currently has a rate of 5.375%, no points and an APR of 5.427%.  With the assistance of a mortgage calculator, the monthly payment on this loan would be $560.02 per month.

The bank also offers a 20 year fixed rate mortgage with an interest rate of 5.375%, no points and an APR of 5.445%.  Using the mortgage payment calculator with these rates results in a monthly payment of $680.90.

The bank’s 15 year fixed rate mortgage has an interest rate of 4.875%, no points and the APR is 4.963%.  The mortgage payment calculator indicates the monthly payment on this home loan would be $784.36.

The above rates and payments assume a 20% down payment, loan amount of $100,000, and the term stated with a rate lock period of 30 days.  If the down payment is less than 20%, mortgage insurance may be required, which could increase the APR.  There is a maximum loan amount of $417,000 on these mortgage loans and rates.

To obtain the most current mortgage interest rates and programs, call one of the banks personal banking officers at 1-712-722-4846.  Additional loan information and mortgage rates can be found on the bank website located at www.ambankiowa.com.

Tags: 15 year fixed rate mortgage, 30 year fixed rate mortgage, monthly mortgage paymnet, mortgage calculator, mortgage rates

This entry was posted on Saturday, February 14th, 2009 at 2:47 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.