The information provided assumes the purpose of the loan is to purchase a property, with a loan amount of $806,501 and an estimated property value of $1,200,000. 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 6.125% initial interest rate, the APR for this loan type is 6.511%, subject to increase. Based on current market conditions, the monthly payment schedule would be:
- 60 payments of $4,900.39 at an interest rate of 6.125%
- 299 payments of $5,193.13 at an interest rate of 6.750%
- 1 payment of $5,192.00 at an interest rate of 6.750%
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.