Farmers & Merchants Bank Makes It
Easier To Buy A New Home



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.

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. Fixed Rate Mortgages

With a fixed rate mortgage, the interest rate stays fixed throughout the life of the loan. The principal and interest portion of your payment does not change.

• Conventional Mortgages
• Community Homebuyer's Program
• Jumbo loans
• Variety of terms

Adjustable Rate Mortgages (ARMs)

The interest rate under an adjustable rate mortgage is typically lower than fixed rate mortgages. Your initial payments will be lower and future payments will be adjusted based on the type of loan.

• Rates vary based on market conditions
• Interest rate caps protect you from drastic market shifts.

Government Loans

Government backed residential loans require little or no down payment, making home ownership more affordable.

• Guaranteed Rural Housing
• FHA loans
• VA
• Variety of terms available
• Loans are assumable

Other Programs

• Home construction loans
• Bridge loans
• Refinancing
• Investment property loans

Contact a Farmers & Merchants Mortgage Representative today to discuss financing your dream home. Loan programs are available to meet nearly everyone's need.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
(Based on our 30 yr. rate)

	Mortgage Amount		7% APR		8% APR		9% APR
	$ 60,000		$ 399		$ 440		$ 483
	$ 80,000		$ 532		$ 587		$ 644
	$100,000		$ 665		$ 734		$ 805
	$120,000		$ 798		$ 881		$ 996
	$140,000		$ 931		$1,028		$1,127
	$160,000		$1,064		$1,174		$1,288
	$180,000		$1,198		$1,321		$1,449
	$200,000		$1,331		$1,468		$1,610

The above rates are for illustrative purposes only. They are based on the Annual Percentage Rate (APR) indicated for principal and simple interest. We offer a variety of mortgage plans. Contact Us for current rates.

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 (consult a tax advisor regarding the deductibility of interest). For more details, speak to one of our mortgage loan experts at 785-460-3321 or email us today.