Refinancing our Home with National Bank of Arizona?

Question

Has anyone delt with this Bank before?

Answer 1

I have not dealt with that bank but I have dealt with lots of others. My advice to you is check with a Mortgage Broker as they have hundreds of banks and programs and can typically offer you a lower interest rate. A Mortgage Broker has more leverage than you would, what I mean is we sell loans to banks and thus can offer them millions in business a month versus you alone walking into your bank. I hope this helps you but if you have any additional questions or need any assistance please feel free to email or visit my website www.dantadgerson.com.

Answer 2

I have not delt with this bank before. If you'd like I can compete with the rate they are giving you. I am a Loan Consultant in San Diego California. I work with over 80 lenders and can probably beat whatever they are trying to give you.

If you'd like you can visit my website for more info

www.lindamunoz.net

Answer 3

National Bank of Arizona is a solid company. Here is a web search I did on the company.

PHOENIX Another bank merger is in the works.
Stockmen's Bank is going to merge with National Bank of Arizona _ subject to approval by shareholders and bank ruglators.

National Bank _ a subsidiary of Utah-based Zions Bancorporation _ is based in Phoenix. Stockmen's is headquartered in Kingman.

Stockmen's is the biggest Arizona-based bank operating mainly in rural areas of the state. It has 43 branches, including eleven in California, and 375 employees. National Bank has 53 branches and 980 employees.

National Bank of Arizona President and Chief Executive Officer Keith Maio announced in a news release Monday that a definitive agreement has been signed under which The Stockmen’s Bank headquartered in Kingman will merge with National Bank of Arizona.

The Stockmen’s Bancorp Inc. will merge into Zions Bancorporation (NASDAQ: ZION) and Stockmen’s subsidiary, The Stockmen’s Bank, will merge into Zions’ subsidiary, National Bank of Arizona. The agreement provides for the issuance of 2,571,559 shares of Zions common stock for all of the equity interests of The Stockmen’s Bancorp Inc.

The Stockmen’s Bank has a branch at 25 S. Highway 92 in Sierra Vista and none in Tucson. National Bank of Arizona has branches on Fry Boulevard in Sierra Vista, Bisbee and Benson. It has several branches in Tucson.

There has been “no talk of closing branches,” William Holburn, communications officer with National Bank of Arizona, told the Herald/Review.

Stockmen’s Bank has $1.2 billion in total assets, approximately 375 employees with 43 offices, including 11 in central California. The merger is subject to the approval of Stockmen’s shareholders and banking regulators and is expected to close in the first quarter of 2007.

“We are very pleased to have this opportunity to expand our operations with the acquisition of this well managed community bank”, Maio said. “The addition of Stockmen’s brings a great group of experienced and capable bankers to our team, as well as a loyal and compatible customer base.”

Holburn said, “The two banks are very close in terms of size and community roots and values.”

Farrel Holyoak, president and CEO of Stockmen’s, commented, “Joining with National Bank of Arizona provides our clients with the best of both worlds — access to state-of-the-art banking products and services while maintaining the value created by long-standing personal relationships. We are excited about the opportunities this creates for both customers and employees.”

Mr. Holyoak will be a Regional President of the National Bank of Arizona and will have management responsibility for Western Arizona and the acquired California offices.

National Bank of Arizona, a wholly-owned subsidiary of Zions Bancorporation, was founded in Tucson in 1984 as a community bank specializing in real estate, serving professionals, and meeting the needs of small and mid-sized Arizona businesses.

Since that time, the bank has experienced dramatic growth becoming Arizona’s fourth-largest bank with approximately $4.5 billion in assets, 980 employees and 53 offices in 36 communities throughout the state.

For more information, visit National Bank online at: www.nbarizona.com. Investor information can be accessed at www.zionsbancorporation.com.

The Question that you may want to ask of them, is will they hold your Mortgage Note, or will it be sold. Lots of companys will sell the Mortgage Notes in bulk, to get a inflex of money back into the company. So it really does not matter who you go with, as long as you are happy with your interest rate and terms of your pending mortgage. Are you? Are you working with a Mortgage Broker - to get the best pricing on your behalf? For instance I underwrite for 150 companies, so I am very competive in getting my clients the terms, rate they are wanting.

Other things to consider?

Decide on how much you want to spend, if you want to escrow the taxes and insurance. Say the taxes are 1200 a YR and insurance 800 a year (just an estimate, ok) That is 2,000 a year divided by 12 = 166.66 If you paid 1,000 a month now - (166.66) your P/I Principle and Interest would be 833.34. Now you decided on the price range you are looking into. If you have great credit, a 1 loan at 130,000 at a rate of 7 percent over a 30 year time would be 864.89 - This is just a estimate - ok - It greatly depends if you need help with closing cost, if you have money to bring into the table - so you do not have to borrow the full 100 percent. Rates are still in the 6's. (That is based on a conforming rate). If your credit is in the 500's to low 600's than the rate would be higher - lots of factors to consider. Talk with a broker, a broker underwrites for many company's
(I underwrite for 150 companies) so I only have to pull credit 1 time, and they look at my credit. A single lender (not a broker) has programs available, but they may not be able to help you and your situation, so you go elsewhere, and than that person pulls your credit (see what I mean.) If you shop, your credit is pulled and that is considered a soft pull, for a 30 day period. Just like shopping for a auto, it is good for 30 days. If you apply for a credit card, that is considered a "hard" pull and it drags down your credit score. When looking for a home, please do not apply for a credit card, Department Charge Card, Gasoline Card or make any major purchases, like a auto, etc. This will pull your credit down. Try to find someone (broker) that will pull your credit one time, and submit your loan application to company's that will go off his credit report. By the way, a loan application is called a 1003, and they will issue you a GFE (Good Faith estimate, with in 3 days, that is per the RESPA laws, and the TIL (Truth in Lending). This will tell you the up-front closing cost (etc) associated with your loan. This is a estimate only - not the final - but it does help you figure things out. Some companies want you to escrow you taxes and insurance. Other's may not require it...Some companies add a .25 to the interest rate if you want to escrow waver.

Answer 4

yes i have, i deal with them all the time. email me at

[e-mail]

and i could give you some tips, and advice on this bank.

Thanks!

Nikki

Answer 5

Maybe so

Answer 6

Well, it depends..