Interest Rate

Loan Term in Months 

Loan Amount 
   
Payment
 

30 year fixed = 360 months

15 year fixed = 180 months

Note:  Most ARM programs are amortized over 30 years

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Loan Calculator

Use the loan calculator to determine a new monthly payment for a mortgage of any amount.  Remember to use the number of months, NOT YEARS, for the term of the loan. 

Keep in mind that your escrows (taxes and insurance) are not factored into your new payment. 

The interest rate, in addition to changing to market conditions, can also be effected by factors such as loan amount, loan amount vs. property value (LTV), debt to income ratio, property type, and the your credit report along with other issues.  Call to speak with a loan officer about a specific question concerning rate changes and factors effecting the interest rate.