Buying a new home should be a pleasant experience.
Buying a new home should be a pleasant experience. We’d like to help make it that way by taking the worry out of applying for a mortgage. That’s why we would like you to take our Home BuyAbility Test. It will help you find out how much home is right for you, so you can feel more comfortable when you apply for your mortgage loan with us. Go to Apply Today under our loan tab, to apply for a loan.
Select A Mortgage Loan To Fit Your Financial Situation. Before you apply for your mortgage loan, you’ll need to decide which type of loan may be right for you.
- Conventional Loans have a fixed rate and monthly payment for the entire life of the loan. It’s easy to budget for this type of loan because your payment will always be the same. The rate on a conventional mortgage loan is generally higher than an adjustable rate mortgage.
- Adjustable Rate Loans usually start with lower rates than conventional loans. We’ll let you know how much the rate can be adjusted over the life of the loan, so you’ll know from the beginning the absolute maximum amount you would ever have to pay. If you will be moving in a few years, or if you think interest rates will be going down, you’ll want to consider an adjustable rate since monthly payments may be lower.
- FHA Loans offer lower interest rates, require a relatively small down payment, and are insured through the Federal Housing Administration.
Once you know approximately how much home is in your price range, use the guide below or our convenient Mortgage Loan Calculator to estimate your monthly payments based on the principal and interest. Closing costs are normally paid in a lump sum at the time you take out the loan. Other annual costs such as taxes, insurance and mortgage life insurance are also not included on the chart, but may be added to your monthly payments.
Monthly Mortgage Payment Guide
|Mortgage Amount||4% APR||5% APR||6% APR||7% APR||8% APR|
|$ 60,000||$ 286||$ 322||$ 360||$ 399||$ 440|
|$ 80,000||$ 382||$ 429||$ 480||$ 532||$ 587|
|$ 100,000||$ 477||$ 537||$ 600||$ 665||$ 734|
|$ 120,000||$ 573||$ 644||$ 719||$ 798||$ 881|
|$ 140,000||$ 668||$ 751||$ 839||$ 931||$ 1,028|
|$ 160,000||$ 764||$ 859||$ 959||$ 1,064||$ 1,174|
|$ 180,000||$ 859||$ 966||$ 1,079||$ 1,198||$ 1,321|
|$ 200,000||$ 955||$ 1,074||$ 1,199||$ 1,331||$ 1,468|
Is Refinancing Right For You? Generally, it’s a good idea for you to consider refinancing whenever the interest rate for mortgages is more than two percentage points below your present mortgage. And whether you apply with us for a new mortgage to buy the home you want, or to refinance your present mortgage, ask about a Homeowner’s Credit Line. It can help you save on fees when you apply; interest when you want to borrow money; and, on taxes at the end of the year. For more details, speak to one of our mortgage loan experts at 406-683-5191 or 406-846-2202.
PIONEER FEDERAL SAVINGS AND LOAN ASSOCIATION
Title V of the Housing Economic Recovery Act of 2008, the Secure and Fair Enforcement Mortgage Licensing Act of 2008 (S.A.F.E. ACT) is designed to enhance consumer protection and reduce fraud through the setting of minimum standards for the licensing and registration of mortgage loan originators.
Registration is required for mortgage loan originators who work for an insured depository institution.
The following website will provide you with information about all mortgage loan originators who are either state licensed or registered: www.nmlsconsumeraccess.org
The registered mortgage loan originators who are employed by Pioneer Federal Savings and Loan Association are listed below with their unique identifier. This identifier will be needed to access the information about a particular mortgage loan originator.
- Pioneer Federal Savings & Loan Association NMLS#704467
- Mike Richards NMLS#710611
- Julie Thompson NMLS#710612
- Lorene Schuler NMLS#710613
- Cara Campbell NMLS#648853
- Phillip Kemp Willett NMLS#911459
- Bill Howell NMLS#1585643