The information provided assumes the purpose of the loan is to refinance the existing mortgage, with a loan amount of $165,000 and an estimated property value of $225,000. The property is located in Solon, OH and is within Cuyahoga 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 740.
At a 4.000% interest rate, the APR for this loan type is 4.099%. The monthly payment schedule would be:
- 239 payments of $999.87 at an interest rate of 4.000%
- 1 payment of $999.26 at an interest rate of 4.000%
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.