Mortgage Calculator Results with Iowa Mortgage Rates

Primebank is located in northwest Iowa.  The bank has three bank branches in Le Mars, Sioux Center and Sioux City.  The bank was established in 1901 and has assets of approximately $340,000,000.  Primebank offers an array of consumer bank products and service as well as Internet account access, and a network of ATMs.

The bank offers a variety of consumer loans with flexible terms, low fees and competitive interest rates.  The bank provides local decisions and services on its consumer loan and mortgage loan products.  For consumers looking to purchase their first home, move to a new home or refinance their existing mortgage, Primebank has multiple mortgage loan options.

The bank has fixed rate mortgage loans, adjustable rate mortgage loans, home equity and home improvement loans, construction loans in which the bank offers flexible terms and conditions available to help get the construction loan and permanent financing all in one place and a variety of programs designed specifically for the first-time homebuyer.

Current mortgage rates offered by Primebank include:

10 year fixed rate mortgage has an interest rate of 4.500% and a 4.678% APR.  Using the mortgage payment calculator the payment for a $100,000.00 home loan would be $1036.40.

15 year fixed rate mortgage has an interest rate of 4.625% and a 4.774% APR.  The mortgage calculator produces a $771.45 monthly mortgage payment on a $100,000.00 home loan.

20 year fixed rate mortgage has an interest rate of 5.000% and a 5.146% APR.  The same $100,000.00 home loan yields a monthly mortgage payment of $660.05 based on the findings from the mortgage payment calculator.

30 year fixed rate mortgage has an interest rate of 5.125% and a 5.280% APR.  The mortgage calculator show these terms lead to a monthly mortgage payment of $544.65.

40 year fixed rate mortgage has an interest rate of 7.250% and a 7.620% APR.  This long term home loan would have a monthly mortgage payment of $639.90, after inputting the rate and term in the mortgage payment calculator for the $100,000.00 loan and the relatively high interest rate.

One year adjustable rate mortgage has an interest rate of 4.625% and a 4.657% APR.  Using the adjustable rate mortgage payment calculator, the monthly mortgage payment for this loan would be $514.22.

3/1 adjustable rate mortgage has an interest rate of 5.500% and a 5.541% APR.  With the mortgage calculator in place, the monthly payment on this adjustable rate mortgage would be $567.88.

All interest rates listed are based on a 30-day lock in period with bank.  Products and rates are subject to change without notice and may vary depending on an individual’s credit history and transaction.  All rates are based on an owner occupied primary residence first mortgage loan.  The payment examples and APRs listed above are based on a $100,000 loan with a 20% down payment.  A smaller down payment may require Private Mortgage Insurance which will increase the APR.  The monthly payment amounts include principal and interest.  Adjustable Rate Mortgages (ARMs) are based on a 30 year amortization period.

APRs for fixed rate loans include a 1% loan origination fee and a $300 commitment fee. Other closing costs include appraisals, abstracting, attorney’s opinions, etc. and also affect the final cost of a mortgage.  APRs for Adjustable Rate Mortgages (ARMs) include a $200 loan origination fee.  Other closing costs include appraisals, abstracting, attorney’s opinions, etc. and also affect the final cost of a mortgage.

Mortgage applicants can apply on-line at www.PrimebankMortgage.com.  Additional mortgage rate information and mortgage terms can be obtained by contacting a Primebank real estate lending officer at (712)546-4175 in Le Mars, (712) 722-4545 in Sioux Center or (712)224-5400 in Sioux City.  The bank web address post timely mortgage rates at www.primebank.com.

Tags: 15 year fixed rate mortgage, 30 year fixed rate mortgage, adjustable rate mortgage, adjustable rate mortgage calculator, Iowa mortgage rates, mortgage calculator, mortgage payment calculator, mortgage rates

This entry was posted on Sunday, February 15th, 2009 at 2:37 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.