The information provided assumes the purpose of the loan is to purchase a property, with a loan amount of $100,000 and an estimated property value of $133,334. The property is located in Mattoon, IL and is within Coles county. The property is an existing single family home and will be used as a primary residence. This featured rate assumes an escrow (impound) account is established. The rate lock period is 60 days and the assumed credit score is 740.
At a 3.250% interest rate, the APR for this loan type is 3.377%. The monthly payment schedule would be:
- 179 payments of $702.67 at an interest rate of 3.250%
- 1 payment of $702.44 at an interest rate of 3.250%
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.