The information provided assumes the purpose of the loan is to purchase a property, with a loan amount of $165,000.00 and an estimated property value of $275,000. The property is located in Chicago, IL and is within Cook county. The property is an existing single family home and will be used as a primary residence. An escrow account is required. The rate lock period is 60 days and the assumed credit score is 700.
At a 2.250% interest rate, the APR for this loan type is 2.508%. The payment schedule would be:
- 180 payments of $1,080.89 at an interest rate of 2.250%
The actual payment will be higher if mortgage insurance is required on your loan. The payment examples do not include amounts for taxes and insurance premiums. Your actual payment obligation will be greater considering taxes and insurance premiums.
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