The information provided assumes the purpose of the loan is to purchase a property, with a loan amount of $762,000 and an estimated property value of $1,270,000. The property is located in San Diego, CA and is within San Diego 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% initial interest rate, the APR for this loan type is 6.977%, subject to increase. Based on current market conditions, the monthly payment schedule would be:
- 60 payments of $4,942.32 at an interest rate of 6.750%
- 299 payments of $5,055.82 at an interest rate of 7.000%
- 1 payment of $5,056.78 at an interest rate of 7.000%
If an escrow account is required or requested, the actual monthly payment may be higher after accounting for real estate taxes and homeowner insurance premiums.