Banner Bank Mortgage Rate Calculators


Banner Bank Online Banking » Banner Bank Mortgage Rate Calculators
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The Banner Bank online mortgage calculators help give applicants a general idea on the affordability of a home, whether they should purchase or rent, and any other variable that can help them make an informed choice.

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Rates

Applicants should call customer care at 1(800)-272-9933 to get an exact figure for the interest rates (%). They can also go to their local branch.

Calculators

How to Calculate

Refinancing normally comes with associated costs including fees, points and closing costs. This

refinancing calculator helps you determine whether the savings you make will surpass the costs. Below are the variables applicants need to enter:

  • Existing Loan
    • Original loan amount
    • Date of loan
    • Original mortgage length
  • Current interest rate
    • New Loan
    • Cash out amount upon refinance
    • New interest rate
    • Fees and closing costs
    • Points
    • Term of new loan
  • Other Information
    • Savings rate
    • Income tax rate
    • Duration you will keep the property
    • Payment schedules and a graph can be viewed by checking the boxes at the bottom of the calculator.

This calculator helps those applying to determine the interest and principal payments associated with a

fixed rate mortgage. The variables below are required:

  • Home price
  • Term of loan
  • Down payment
  • Interest rate

You can opt to view the payment schedule before clicking “Compute”.

 

The adjustable mortgage calculator helps to estimate the payments and interest for an adjustable mortgage.

  • Price of the home

  • Down payment
  • Term of the loan
  • Beginning interest rate
  • Rate cap
  • Maximum amount the rate will increase at each subsequent interval
  • Maximum amount the rate will increase at the first interval
  • Number of months between subsequent rate increases
  • Number of months before the first rate increase

There is an option for viewing the payment schedules before clicking compute.

 

 

Balloon mortgages are usually short (about 5 years). However, the monthly payments are amortized over

many years (usually 30 years). They have lower interest with a substantial final balloon payment. This calculator helps determine the payments the applicant would make after taking out the loan. Here are the variables required for the computation:

  • Price of home
  • Down payment
  • Amortization period
  • Balloon payment due in (years)
  • Interest rate

Click compute to get the payment breakdown. There is also the option of viewing the payment schedules.

With this calculator, applicants can compare the cost of buying a home to that of renting.  Here are the

variables required for computation:

  • Rent
    • Monthly insurance
    • Monthly rent
    • Rent increase per year
  • Purchase Information
    • Price of the home
    • Interest rate
    • Down payment
    • Term of the loan
    • Closing cost for buying
    • Points
  • Home Information
    • Yearly property taxes
    • Monthly cost of maintenance
    • Homeowner’s insurance per month
    • Yearly appreciation?
    • Other monthly costs
  • Personal Information
    • Federal and State tax rate
    • Investment rate of return
    • Duration of stay in property
  • Sale Information
    • Agent commission
    • Closing cost for selling

 

 

This calculator helps to compare various mortgage offerings. It allows for comparison of up to 3 mortgages. Here is what is required:

  • Details for individual loans
    • Loan duration
    • Down payment
    • Points
    • Interest rate
    • Other fees
    • Adjustable type
    • Loan type
    • Maximum subsequent rate adjustment
    • Maximum initial rate adjustment
    • Anticipated rate cap
  • All Loans
    • Price of home
    • Income tax rate
    • After tax savings rate
    • Duration of stay in the house

Lenders normally base their home loan qualification on the applicant’s monthly expenses and monthly

gross income. This calculator helps calculate the loan amount the applicant qualifies for. Here is what is needed:

  • Income
    • Combined gross annual income
  • Monthly Expenses
    • Minimum monthly credit card payments
    • Car payments
    • Other fixed monthly debt expenses
  • Loan Information
    • Down payment
    • Interest rate
    • Loan term
  • Payment Information
    • Monthly insurance and other costs
    • Monthly association dues (if any)
    • Annual property tax

 

 

 

This calculator helps determine the most expensive house an applicant can buy based on their monthly payment. This does not guarantee loan qualification. Here is what is needed for computation:

  • Monthly Payment Information
    • Highest payment afforded by applicant
  • Payment Breakdown
    • Yearly property tax
    • Monthly insurance and other costs
    • Monthly association dues (if any)
  • Loan Information
    • Term of loan
    • Down payment
    • Interest rate
  • Personal Information
    • Combined federal and state rate

 

 

 

 

This calculator helps determine whether or not it is worthwhile to consolidate several loans. It allows for

consolidation of up to 10 loans. The variables listed below are need for computation.

  • Loan type
  • Loan term
  • Interest rate
  • Fees
  • Savings rate
  • Points
  • Tax rate

 

Click compute to get the financial details.

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