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Compass Bank Mortgage |
Compass Bank Mortgage Loans are some of the best available loan options to finance a home without much financial difficulties. To assist low and moderate income homebuyers, BBVA Compass has offered a wide variety of mortgages for eligible borrowers to choose from. If you are looking to buy a new home then the representatives of the bank can work out for you to get the perfect mortgage term that suits your needs. Depending on your eligibility and credit condition, you could choose from a range of loan options that include first time home buyer mortgage, fixed & adjustable rate mortgages, jumbo mortgages, refinance loans, FHA & VA home loans, professional home financing program and construction & renovation financing.
Compass Bank Mortgage Rates
Mortgage rates offered by Compass Bank are highly competitive and most borrowers are able to afford them easily. One can choose for a fixed rate mortgage where the interest rate and the monthly principal payment remains the same for the entire loan life. A customer can also go for an adjustable rate term if he wants changes periodically in the interest and the principal payment. The following charts show the current mortgage rates offered by Compass Bank with their different mortgage options in the state of Alabama.
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| Conforming Fixed Rates and Payments |
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Rate |
Discount
Points |
Origination
Fee |
APR1 |
Monthly Principal
and Interest Payment2 |
| 15 year |
3.750% |
0.000% |
1.000% |
3.950% |
$1,454.44 |
| 30 year |
4.125% |
0.375% |
1.000% |
4.271% |
$969.30 |
The APR and the monthly payment amount shown above are for a $200,000 loan with down payment of 20%.
| Jumbo Fixed Rates and Payments |
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Rate* |
Discount
Points |
Origination
Fee |
APR1 |
Monthly Principal
and Interest Payment2 |
| 15 year |
4.625% |
0.000% |
1.000% |
4.800% |
$3,471.29 |
| 30 year |
5.125% |
0.000% |
1.000% |
5.228% |
$2,450.19 |
The monthly payment and APR shown above are based on $450,000 loan with 20% down payment.
Compass Bank Mortgage Calculator
A number of homeowners usually make several complaints that their loan terms are not suitable with their income conditions. This is because they have taken the wrong loan option while purchasing their house. To avoid such future inconveniences, home buyers can use the mortgage calculator offered by the bank on its website. By using this tool you can get some idea about how much will your monthly loan payments be and whether a fixed rate loan or an adjustable rate term will work out for you. This calculator can also help you to compare various loan options and get a clear understanding of the mortgage costs.
In case if you need some assistance with your existing mortgage or want to make some complaints then contact Compass Bank Mortgage Department by dialing 1-800-239-1996. The mortgage specialists of the bank are always ready to help you in every situation. Visit the website of the bank to find more comprehensive details on Compass Bank mortgage payoff and mortgage clause.
Website: http://www.bbvacompass.com/personal/loans/mortgages/
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