The information provided assumes the purpose of the loan is to purchase a property, with a loan amount of $160,000 and an estimated property value of $200,000. The property is located in South Bend, IN and is within St. Joseph 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 45 days and the assumed credit score is 740. Any change to the loan scenario above could impact the rates, payments and fees associated with your mortgage.

At a 3.625% initial interest rate, the APR for this loan type is 4.423%, subject to increase. Based on current market conditions, the monthly payment schedule would be:

If an escrow account is required or requested, the actual monthly payment will also include amounts for real estate taxes and homeowner's insurance premiums.