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First National Banking Company offers our customers
a variety of home mortgage loans to choose from: fixed rate, variable rate, and balloon
payments. The goal is to get you a mortgage that best fits your needs, at the best
possible rate, in the least amount of time.
Mortgage Calculators
Conventional Fixed Rate Mortgages
 Any mortgage made without
the guarantee of a government agency is classified as a conventional loan. Conventional
loans with small down payments are available, though a larger down payment will not
require a Private Mortgage Insurer to guarantee the loan. Fixed-rate mortgages have an
interest rate that remains constant for the life of the loan. (Variable rate mortgages
allow the rate to fluctuate up and down with the market.)
Conventional Fixed Rate Mortgage Calculator
Tailor your conventional loan to suit your needs: extend
the term to get smaller monthly payments; shorten the term to save thousands of dollars in
interest expense; or select a term somewhere in between. Lock-in (or guarantee) the
interest rate at the time of application or wait until closing. Fixed rate mortgages are currently
available up to 40 years.
V.A. Loans
For veterans of military service, the VA will guarantee repayments of the loan to the
lender. The VA requires a "Funding Fee" from the borrower to pay for this
guarantee. The amount of the funding fee will differ depending upon your veteran status,
loan amounts, and prior use of VA mortgages. The funding fee can be added to the loan
amount. Similar to FHA, fixed and adjustable-rate mortgages can be obtained through the
VA.
Rural Development Loans
The U.S. Department of Agriculture, Rural Development/Rural Housing Service will
guarantee loans for 30 years on home purchases of up to 100% of the market value.
Households must be in the low-to-moderate income limits to qualify. The buyers must also
personally occupy the dwelling following the purchase. The Rural Development loan requires a one-time guarantee fee of
two (2) percent of
the loan amount.
Adjustable Rate Mortgages
An Adjustable Rate Mortgage (ARM) is a mortgage with an interest rate that may adjust
periodically. Your monthly payment amount may fluctuate. These adjustments are based on
the one year LIBOR rate plus a margin. Initial interest rates are
generally lower than traditional fixed-rate mortgages.
Our periodic and lifetime caps determine how much your rate can increase or decrease each
rate change date, as well as what the maximum interest rate can be during the term of your
loan.
First National Banking Company offers a variety of ARM plans with features to suit
your individual needs.
- One-Year Adjustable Rate Mortgage - With this
mortgage, your interest rate may adjust annually.
- Three-Year Adjustable Rate Mortgage - This mortgage
interest rate does not adjust until after the third year. Thereafter, it may adjust every
year subject to interest rate caps specified in the note.
- Five-Year Adjustable Rate Mortgage - This mortgage
interest rate does not adjust until after the fifth year. Thereafter, it may adjust every
year subject to interest rate caps specified in the note.
Adjustable Rate Mortgage Calculator
Balloon Loans
A balloon mortgage adjusts at one, three and five years with a monthly payment based
on an amortization of up to 20 years. A balloon mortgage is perfect for the borrower who
does not plan to own the property for an extended period of time.
Balloon Loan Calculator
New Home Construction Loans
First National Banking Company offers construction loans throughout
the following Arkansas and Missouri counties: Sharp, Fulton, Izard,
Independence, Baxter, Marion, Oregon and Howell Counties. Running the full range of starter homes to
luxurious vacation homes, First National Banking Company can build that dream home. Single-close,
combination construction, and permanent loans are available.
Home Refinance Loans
If you are looking to refinance to get a better interest rate, a home refinance loan may be the perfect choice for
you. You can refinance your home for up to 40 years.
Home Refinance Loan Calculator
Rates: Contact Anita Owens, our
Mortgage Loan Specialist; or a loan officer at any of our conveniently
located branches for the current rates.
(870) 994-2311 or 888-435-BANK
Mortgage Request for Information
If you would like to receive additional information about a mortgage of any kind with
First National Banking Company, just complete our quick on-line Mortgage
Request Form.
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