The information provided assumes the purpose of the loan is to purchase a property, with a loan amount of $228,937 and an estimated property value of $375,000. The property is located in OR and is within Multnomah 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 30 days and the assumed credit score is 740.

At a 3.500% initial interest rate, the APR for this loan type is 4.849%, subject to increase. Based on current market conditions, the monthly payment schedule would be:

The monthly payment amounts quoted include the mortgage insurance premium.

Mortgage insurance is required for most FHA loans. The monthly mortgage insurance premium is calculated based on the average annual outstanding balance, so it will vary from year to year.


The actual monthly payment will also include amounts for real estate taxes and homeowner's insurance premiums.