The information provided assumes the purpose of the loan is to purchase a property, with a loan amount of $743,550 and an estimated property value of $766,550. The property is located in San Diego, CA and is within San Diego county. The property is an existing single family home and will be used as a primary residence. An escrow (impound) account is required. The rate lock period is 60 days and the assumed credit score is 780.
At a 7.500% interest rate, the APR for this loan type is 8.025%. The monthly payment schedule would be:
- 120 payments of $5,539.80 at an interest rate of 7.500%
- 37 payments of $5,304.35 at an interest rate of 7.500%
- 202 payments of $5,199.01 at an interest rate of 7.500%
- 1 payment of $5,198.79 at an interest rate of 7.500%
The monthly payment amounts quoted include the mortgage insurance premium.
Generally, mortgage insurance is required if you are making a down payment of less than 20% of the home's value or purchase price.
If an escrow account is required or requested, the actual monthly payment may be higher after accounting for real estate taxes and homeowner insurance premiums.