Real Estate Mortgage Products
Rates and APRs based on a 30-day lock rate for a loan amount of $100,000 for the purchase of a primary residence. If the LTV is greater than 80%, mortgage insurance may be needed which could increase the APR.
APR includes interest and certain fees as applicable according to federal law.
100 East Kimberly Road, Davenport, Iowa
Call today for all of your Real Estate Lending needs.
| Today's Interest Rates: Thursday, October 2, 2008 | ||||
| Program | Rates | Points | APR | Monthly Payments Per $1000 |
| 30 Yr Fixed | 6.500% | 0 | 6.571% | $6.32 |
| 20 Yr Fixed | 6.750% | 0 | 6.845% | $7.60 |
| 15 Yr Fixed | 6.500% | 0 | 6.617% | $8.71 |
| 30 yr Interest Only* | 7.125% | 0 | 7.186% | $5.94 |
| 3/1 Libor ARM** | 6.125% | 1 | 7.554% | $6.88 |
| 5/1 Libor ARM** | 6.375% | 1 | 7.645% | $7.04 |
| 7/1 Libor ARM** | 6.625% | 1 | 7.749% | $7.20 |
Rates are for reference only and subject to change without notice.
Rate Locks available at time of application.
* Interest only for the first ten years and fully amortizing over the remaining 20 years.
**ARM Products
3/1 is fixed for three years and may adjust annually thereafter with a 2% maximum interest rate change per adjustment period and a 6% maximum interest change per life of loan.
5/1 & 7/1 are fixed for five/seven years and may adjust annually thereafter with a 2% maximum interest rate change per adjustment period and a 5% maximum interest rate change per life of loan.
Whether you are refinancing your primary residence or investment property, we offer a variety of mortgage products to fit your needs. Call us today.
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.
Once you know approximately how much home is in your price range, use the guide below or 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.
| Monthly Mortgage Payment Guide | ||||
| Mortgage Amount | 5% APR | 6% APR | 7% APR | |
| $ 60,000 | $ 323 | $ 361 | $ 401 | |
| $ 80,000 | $ 431 | $ 481 | $ 534 | |
| $100,000 | $ 538 | $ 601 | $ 668 | |
| $120,000 | $ 646 | $ 722 | $ 801 | |
| $140,000 | $ 753 | $ 842 | $ 935 | |
| $160,000 | $ 861 | $ 962 | $1,068 | |
| $180,000 | $ 969 | $1,082 | $1,202 | |
| $200,000 | $1,076 | $1,203 | $1,335 | |
The above rates are for illustrative purposes only. They are based on the Annual Percentage Rate (APR) indicated for principal and simple interest.
Matt PuckVice President/Retail Loan Manager
Phone: (563) 388-2632
Fax: (563) 388-2658
Email: mpuck@northwestbank.com
P.O. Box 8001 | Davenport, Iowa 52808-8001 | (563) 388-2511