First Tennessee Bank Mortgage Rates and Calculators


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

First Tennessee Bank mortgage calculators are vital tools for mortgage applicants.  When buying a home, one of the most critical issues is picking out the right financing option. First Tennessee bank provides several mortgage calculators to help applicants make a decision.

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Rates

For information about the mortgage products and rates offered by First Tennessee Bank, visit the nearest branch or call customer service on the following number 1-800-609-2116. You have to apply to get the actual rates.

Calculators

 

How to Calculate

The tool is used to calculate monthly repayments.  The initial payments are fixed then readjusted after awhile. Variables need to compute are given below:

  • Adjustable rate detail:
    • Minimum term rate over term of loan
    • Maximum term rate over term of loan
    • Number of months before first adjustment
    • Number of months between rate adjustments
    • Assumed rate adjustment
    • Trend of rates over loan tenure
  • Mortgage Assumptions
    • Loan amount
    • Initial interest rate
    • Number of months

Click ‘submit’ to determine the adjustable rate detail.

 

This calculator helps users determine which between renting and owning a home is best for them. Below are the variables required for computation.

  • Rent Assumptions
    • Monthly rent payment
    • Additional monthly fee
    • Monthly insurance premium
    • Annual percentage rate increase
  • Purchase assumptions-
    • Purchase price of house
    • Annual appreciation rate
    • Realtor fee on future sales
    • Amount of loan
    • Annual interest rate
    • Number of years
    • Closing costs
    • Homeowner insurance premium
    • Annual property taxes
    • Annual maintenance costs
  • Other assumptions-
    • No of years for comparison
    • Before tax return on savings
    • Marginal tax bracket
    • Assumed annual inflation rate

 

This tool enables the applicant know whether they can afford a given mortgage product. The variables at play are listed below:

  • Income and debt obligation-
    • Current combined annual income
    • Monthly child support; auto; credit card and association payment
    • Any other monthly obligations
  • New loan assumption-
    • Term of new mortgage
    • Annual interest rate on mortgage
    • Principal sum
    • Estimated annual property tax
    • Annual homeowner insurance
    • Loan to value ratio

Click ‘submit’ to compute.

 

 

This calculator helps determine the effect of closing costs on the interest rates. The variables required for computing are given below.

  • Loan information-
    • Term
    • Principal
    • Interest rate
  • Closing cost information-
    • Discount points
    • Originating fee
    • Lender fee
    • Credit reports
    • Appraisal
    • Title insurance
    • Reconveyance
    • Recording fee
    • Wire and courier fee
    • Endorsement fee
    • Title closing fee
    • Title Document preparation fee
    • Other fees

Click ‘submit’ to compute.

This calculator helps to compare a fixed rate mortgage and a flexible mortgage. The variables at play are as follows:

  • Loan amount
  • Annual interest rate
  • Tenure of loan
  • Interest rate details of the loan

Click ‘submit’ to compute.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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