First Midwest Bank Mortgage Rates and Calculators


First Midwest Bank Online Banking » First Midwest Bank Mortgage Rates and Calculators

First Midwest Bank mortgage calculators help loan applicants to determine the financial implications of taking out a mortgage with the bank. Members can opt for a fixed rate or adjustable rate mortgage. To find out more about the mortgage products offered by First Midwest Bank, click here.

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Rates

Mortgage rates vary depending on the applicant’s financial circumstances and credit worthiness. For a personalized rate quote, get in touch with a Residential Lender.

Calculators

How to Calculate

This calculator helps the user determine whether or not they should refinance their mortgage. The following entries are required.

  • Current loan
    • Interest rate
    • Balloon year
    • Years paid
    • Term
    • Loan amount
  • New Loan
    • Interest rate
    • Other settlement services
    • Charge For Specific Interest Rate
    • Origination Charge
    • Balloon year
    • Term
  • Your Property
    • Property tax
    • Appraised value
    • Property insurance
  • Regarding yourself
    • Your tax rate
    • Your savings rate
    • Years before you sell

Click ‘See Your Results’ to compute.

This calculator helps users to decide whether renting is a better preposition than buying a home. The information below is required.

  • Savings rate
  • Your tax rate
  • Other settlement services
  • Property tax per annum
  • Charge For Specific Interest Rate
  • Selling costs
  • Annual maintenance
  • Monthly rent
  • Property insurance
  • Purchase price
  • Yearly rent change
  • Appreciation or Depreciation rate
  • Origination Charge
  • Term
  • Years before selling or paying off loan
  • Interest rate
  • Renter’s insurance
  • Loan amount

Click ‘See Your Results’ to compute.

This calculator helps users to see how making extra payments will benefit them. The following entries are required.

  • Original loan terms
    • Interest rate
    • Appraised value
    • Property insurance
    • Term
    • Property tax
    • Loan amount
  • Extra payments
    • Period before you start making extra payments
    • Additional payment

Click ‘See Your Results’ to compute.

This calculator helps users to discover how they can reduce their mortgage insurance costs. The variables listed below must be entered.

  • Appraised value
  • Property tax per year
  • Property insurance per year
  • Interest rate
  • Term

Click ‘See Your Results’ to compute.

This calculator helps users to determine how much they can get for their mortgage. The information below is required for computation.

  • Monthly income
    • Net wages
    • Pre-tax investment income
    • Rental property income
    • Other income
  • Monthly Payments
    • Other payments
    • Rental property loans
    • Student loans
    • Auto loans
  • Other debts
    • Child support, alimony or other
    • Credit card payments
  • Desired Loan terms
    • Down payment
    • Interest rate
    • Term
  • Expected Taxes & insurance
    • Property insurance
    • Property tax

Click ‘See Your Results’ to compute.

This calculator helps users discover how much they can save in taxes by taking out a mortgage. The following information must be entered.

  • Property tax
  • Your tax rate
  • Charge For Specific Interest Rate
  • Interest rate
  • Loan amount
  • Appraised value
  • Term
  • Origination Charge
  • Other settlement services
  • Property insurance

Click ‘See Your Results’ to compute.

This calculator helps loan applicants determine how much they should put down for their new home. The entries listed below are needed.

  • Origination Charge
  • Charge For Specific Interest Rate
  • Term
  • Interest rate
  • Loan amount
  • Property insurance
  • Other settlement services
  • Property tax
  • Tax rate
  • Appraised value

Click ‘See Your Results’ to compute.

This calculator helps users to find out how much they will be paying towards their adjustable rate mortgage on a monthly basis. The entries below are required.

  • Maximum rate
  • Period to first adjustment
  • Period between index adjustments
  • Change in Index rate per adjustment
  • Period between adjustments in the rate
  • Appraised value
  • Term
  • Initial interest rate
  • Property insurance
  • Max adjustment in rate
  • Property tax
  • Your tax rate
  • Predicted changes in rates
  • Minimum rate
  • Margin
  • Loan amount
  • Index rate

Click ‘See Your Results’ to compute.

This calculator helps users determine how much they will be paying in interest on a monthly basis towards their mortgage loan.  These variables are required for calculation.

  • Appraised value
  • Loan amount
  • Property tax
  • Interest rate
  • Property insurance
  • Term
  • Interest-only period

Click ‘See Your Results’ to compute.

This calculator helps users determine what the monthly payments on their mortgage will be. The following information is required.

  • Appraised value
  • Property insurance
  • Term
  • Loan amount
  • Property tax
  • Interest rate

Click ‘See Your Results’ to compute.

This calculator helps users determine whether paying points will help lower their mortgage rate. The following must be entered.

  • Max rate adjustment
  • Your savings rate
  • Term
  • Purchase price
  • Index rate
  • Property tax
  • Origination Charge
  • Margin
  • Loan amount
  • Other settlement services
  • Index rate change for every adjustment
  • Period between index adjustments
  • Max rate
  • Points
  • Months between the rate adjustments
  • Property insurance
  • Your tax rate
  • Months prior to the first adjustment
  • Years before selling or paying off loan
  • Min rate
  • Interest rate

Click ‘See Your Results’ to compute.

This calculator helps the user determine how much home they can afford given their financial situation. Enter the following information to compute.

  • Loan to value ratio
  • Down payment
  • Property tax
  • Interest rate
  • Property insurance
  • Term
  • Total monthly payment

Click ‘See Your Results’ to compute.

This calculator helps loan applicants to determine what their closing costs will be. Users have to enter the following information to compute.

  • Interest rate
  • Term
  • Loan amount
  • Purchase price
  • Adjusted Origination Charges:
    • Charge For Specific Interest Rate
    • Origination Charge
  • Other Settlement Services
    • Property tax
    • Flood Certification
    • Credit report
    • Title insurance
    • Title services & lender’s title insurance
    • Appraisal
    • Tax Service
    • Pest Inspection
    • Transfer taxes
    • Government recording charges
    • Property insurance
    • Survey

Click ‘See Your Results’ to compute.

This calculator comes in handy when loan applicants want to determine the cost of refinancing their mortgage. The information below is required.

  • Interest rate
  • Loan amount
  • Purchase price
  • Term
  • Adjusted Origination Charges
    • Charge For Specific Interest Rate
    • Origination Charge
  • Other Settlement Services
    • Property tax
    • Tax Service
    • Lender’s title insurance
    • Appraisal report
    • Property insurance
    • Flood Certification
    • Recording fee
    • Owner’s title insurance
    • Credit report

Click ‘See Your Results’ to compute.

This calculator helps users compare a 15 year and a 30 year mortgage. This way, they can pick what works best for them. Users have to enter the following variables.

  • Your tax rate
  • Origination Charge
  • Your savings rate
  • Loan amount
  • Interest rate
  • Purchase price
  • Property insurance
  • Other settlement services
  • Property tax
  • Charge For Particular Interest Rate
  • Years before paying or selling
  • Term

Click ‘See Your Results’ to compute.

This calculator helps users to compare a fixed mortgage to an adjustable mortgage. The entries listed below are required for computation.

  • Loan amount
  • Years prior to paying or selling
  • Property tax
  • Other settlement services
  • Purchase price
  • Interest rate
  • Term (years)
  • Your savings rate
  • Origination Charge
  • Your tax rate
  • Property insurance
  • Regarding the adjustable rate mortgage
    • Margin
    • Months between the index adjustments
    • Maximum rate
    • Index rate
    • Minimum rate
    • Months before the first adjustment
    • Max rate adjustment
    • Index rate change for each adjustment
    • Months between the rate adjustments
  • Predicted changes in rates

Click ‘See Your Results’ to compute.

This calculator helps users weigh their options between a traditional mortgages and an interest only mortgage. The following variables are required.

  • Interest-only period
  • Interest rate
  • Origination Charge
  • Other settlement services
  • Purchase price
  • Years prior to paying or selling
  • Property tax
  • Term
  • Loan amount
  • Your savings rate
  • Property insurance
  • Charge For Specific Interest Rate
  • Your tax rate

Click ‘See Your Results’ to compute.

This calculator helps users to compare two mortgage loans. They can make an informed choice when picking between several loan products.

  • Purchase price
  • Your tax rate
  • Property insurance
  • Years prior to paying or selling
  • Loan Amount
  • Property tax
  • Your savings rate
  • Term
  • Charge For Specific Interest Rate
  • Origination Charge
  • Interest rate
  • Other settlement services
  • If loans have adjustable rates
    • Min rate
    • Months between the rate adjustments
    • Margin
    • Months before the first adjustment
    • Months between the index adjustments
    • Index rate
    • Max rate
    • Max rate adjustment
    • Index rate change for every adjustment

Click ‘See Your Results’ to compute.

 

 

 

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