Hi, I’m Dan Hillers buying a new home should be a pleasant experience!
We’d like to help make it that way by taking the worry out of applying for a mortgage. That’s why we would like you to take our Home BuyAbility Test. It will help you find out how much home is right for you, so you can feel more comfortable when you apply for your mortgage loan with us.
Select A Mortgage Loan To Fit Your Financial Situation. Before you apply for your mortgage loan, you’ll need to decide which type of loan may be right for you.
- Conventional Fixed Rate Loans have a fixed rate and monthly payment for the entire life of the loan. It’s easy to budget for this type of loan because your payment will always be the same. The rate on a conventional mortgage loan is generally higher than an adjustable rate mortgage.
- First Federal FIRST Rate Loans usually start with lower rates than a conventional fixed rate loan. Take advantage of lower rates, lower monthly payments and the convenience of having your loan serviced right here at First Federal!
- FHA Loans offer lower interest rates, require a relatively small down payment, and are insured through the Federal Housing Administration.
Once you know approximately how much home is in your price range, use our convenient Mortgage Loan Calculator to estimate your monthly payments based on the principal and interest. Closing costs are normally paid in a lump sum at the time you take out the loan. Other annual costs such as taxes, insurance and mortgage life insurance are also not included on the chart, but may be added to your monthly payments.
Is Refinancing Right For You? Generally, it’s a good idea for you to consider refinancing if you are considering a large remodeling project or if the current interest rate is more than one percentage point below your present mortgage. Apply Online today, or for more details, speak to one of our mortgage loan experts at 319.362.3171 or by email at firstname.lastname@example.org.