The information provided assumes the purpose of the loan is to refinance the existing mortgage, with a loan amount of $900,000 and an estimated property value of $1,125,000. The property is located in Pittsburgh, PA and is within Allegheny 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 6.750% interest rate, the APR for this loan type is 6.811%. The monthly payment schedule would be:
- 359 payments of $5,837.38 at an interest rate of 6.750%
- 1 payment of $5,838.59 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.