The information provided assumes the purpose of the loan is to purchase a property, with a loan amount of $225,000 and an estimated property value of $300,000. The property is located in Milwaukee, WI and is within Milwaukee 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 780.
At a 6.875% interest rate, the APR for this loan type is 7.050%. The monthly payment schedule would be:
- 239 payments of $1,727.58 at an interest rate of 6.875%
- 1 payment of $1,727.73 at an interest rate of 6.875%
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.