Home Loans and Mortgage Calculator – OLD
Buying a home is one of the wisest investments you can make, and we have a variety of ways to make that dream come true. Be sure to use our mortgage calculator to estimate your monthly payments for the various types of loans.
Bowater 7/1 Fixed to Adjustable 30 Year
Fixed rate and payment for first 7 years, and adjustable for remaining 23 years.
Caps; 2% annual (after 7 years), 5% lifetime, 1% origination fee plus actual closing costs.
To apply stop by any Bowater Credit Union office, or click here to see rates and apply on-line.
7/1 Best for Member if:
- If you might upsize, downsize, move, or payoff the loan within 7-10 years.
- This is the best option for most people and saves money on total interest and payment size.
Bowater 1/1 Adjustable 30 Year
Lowest payment available!
Caps: 1% annual, 5% lifetime, 1% origination fee plus actual closing costs.
To apply stop by any Bowater Credit Union office, or click here to see rates and apply on-line.
1/1 Best for Member if:
- If your interest rates likely will not rise.
- More likely to get approved than 30 year fixed.
Bowater 10 and 15 Year Fixed
Large interest savings over the life of the loan! 1% origination fee plus actual closing costs. To apply stop by any Bowater Credit Union office, or click here to see rates and apply on-line.10 and 15 Year Best for Member if:
- If you will not be strained by the larger payments, it will save you large amount of interest in the long run.
- Mostly used for refinances with low loan-to-value.
Secondary Market 30 Year Fixed
Fixed rate and payment for the full 30 years of the loan.
Loan offered by CU Community of Knoxville, TN – a trusted Bowater Credit Union partner.
To apply stop by any Bowater Credit Union office, or click here to see rates and apply on-line.
Secondary Market Best for Member if:
- If this is a “Forever Home” and you will likely not be moving or paying off loan within 7-10 years, and you believe interest rates will rise before you pay it off.
- If you have no desire to have you loan originated and kept locally