MINOT HOMES & COMMERCIAL REAL ESTATE

  Click on the picture below for an easy to use Loan Amortization Calculator.

This will take you to an excellent site for mortgage calculating,

I have it set to their simplest calculator but if you are an expert

you may want to check out some of their more complicated ones.

ALWAYS ask your lender for a "Truth in Lending Statement"! A lower interest rate doesn't always mean the best deal, they may have hidden/junk fees that raise your payment above that of another higher interest rate.

 The first step any would be home owner needs to take is to contact a lender (or 3) and get pre-qualified. We have seen many embarrassed potential home owners who have asked to view a home, make an offer on it, and then find out the bank would not lend them half of what they thought it was worth. Don't look like a rookie! Get pre-qualified before shopping for your new home.

 Currently rates in the Minot area are between 4.9% and 7%. The average home sale at this time is around $120,000.00. Your payment on a 30 year loan at 6% if you borrow $100.000.00 would be $600.00 plus taxes and insurance which would all translate to approximately $750.00 a month.

   There are many good lenders and insurers in the Minot area. We always recommend you check with more then one bank and more then one insurer. These are competitive businesses and the rates change all the time. Start where you already bank and where you already have insurance, then shop around.