PAYMENT EXAMPLES
Here are two examples to help you compare your financing options.

Example 1: Fixed Rate Mortgage
Home Listing Price: $100,000
30-year Fixed – 5.75% Annual Percentage Rate (APR)
10% Down Payment
Estimated Closing Cost: $1,200

Principal and Interest $525.22
Taxes 120.00
Insurance 50.00
Private Mortgage Insurance (PMI) 39.00

Total Estimated Monthly Payment $734.22

Example 2: Adjustable Rate Mortgage (ARM)
Home Listing Price: $100,000
3-year ARM – 4.75% APR*
10% Down Payment
Estimated Closing Cost: $1,200

Principal and Interest $469.48
Taxes 120.00
Insurance 50.00
PMI Waived**

Total Estimated Monthly Payment $639.48

*APR may be increased after the initial term of the loan
**PMI waived with a satisfactory credit history

<< back to Personal Banking

MORTGAGE SERVICES
Fixed Rate Mortgage | Adjustable Rate Mortgage (ARM) | Home Builder’s | Bridge Financing | Financing First Time Homebuyers | Refinancing | Important Terms | Payment Examples | Homebuyer’s Checking Account

home | sitemap | contact us

Click here to login to Personal Banking.

Want to bank online? Sign up now or learn more.