Buying a new home should be a pleasant experience.
My name is Jan Reed and I’m the Mortgage Loan Officer at Commerce Bank. Whether you are ready to buy your dream home, want to refinance, or you are just getting started on your home mortgage research, I am here to answer all of your questions and help you feel confident about your financial decisions.
I will help you understand and take advantage of a variety of home mortgage options and highly competitive rates. Our online application process and comprehensive service make it simple, allowing you to focus on finding a place to call home.
Call me at (662) 396-6235 to discuss how Commerce Bank can help you get the mortgage that is right for you.
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.
You can apply online at jancreed.zipforhome.com.
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|
The above rates are for illustrative purposes only. They are based on the Annual Percentage Rate (APR) indicated for principal and simple interest with a term of 30 years. We offer a variety of mortgage plans.
Mortgage Options include:
- Conventional Fixed Rate Mortgage
- Adjustable Rate Mortgage
- Construction Financing
- USDA (100% financing)
- Jumbo Mortgage
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, call mortgage loan expert Jan Reed at (662) 396-6235.