The information provided assumes the purpose of the loan is to refinance the existing mortgage, with a loan amount of $225,000 and an estimated property value of $300,000. The property is located in Stratford, CT and is within Fairfield County. The property is an existing single-family home and will be used as a primary residence. An escrow (impound) account will not be established. The rate lock period is 60 days, and the assumed credit score is 780.
At a 5.240% interest rate, the APR for this loan type is 5.318%. The monthly payment schedule would be:
- 143 payments of $2,108.20 at an interest rate of 5.240%
- 1 payment of $2,107.58 at an interest rate of 5.240%
The interest rate disclosed above assumes an escrow account for taxes will not be established at loan closing. The payments disclosed above do not include real estate taxes, homeowner's insurance premiums or mortgage insurance premiums. If applicable, the actual payment obligation will be greater.