MORTGAGE EDUCATION
The home buying process can seem intimidating – but it doesn’t need to be. This comprehensive resource guide will walk you through the process step by step, so, when it comes time to put down roots, you can do so with confidence.
Use these quick calculators to compare and contrast various loan options.
- Mortgage Payment Calculator
- Rent or Buy Calculator
- Home Sale Proceeds Calculator
- How Much Home Can I Afford?
- Compare Mortgage Loans
- Adjustable Rate Mortgage Calculator
- Home Refinance Calculator
- Home Closing Costs Calculator
- Debt-to-Income Ratio Calculator
- Calculate Down Payment on a House
- Mortgage Loan Calculator
The length of time it takes to pay off a home mortgage depends on the specific loan terms. First Merchants offers several mortgage solutions, including a 15-year mortgage and a 30-year fixed mortgage. Shorter mortgage terms typically come with a higher monthly payment, but the homebuyer pays less interest over the life of the loan.
Homebuyers also generally have an option to select an adjustable rate mortgage, which includes an interest rate that adjusts with the marketplace. Adjustable rate loans typically start off with lower interest rates, but they increase with time.
The length of time it takes to pay off a home mortgage depends on the specific loan terms. First Merchants offers several mortgage solutions, including a 15-year mortgage and a 30-year fixed mortgage. Shorter mortgage terms typically come with a higher monthly payment, but the homebuyer pays less interest over the life of the loan.
Homebuyers also generally have an option to select an adjustable rate mortgage, which includes an interest rate that adjusts with the marketplace. Adjustable rate loans typically start off with lower interest rates, but they increase with time.
