The information provided assumes the purpose of the loan is to purchase a property, with a loan amount of $120,000 and an estimated property value of $200,000. The property is located in Waxahachie, TX and is within Ellis 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 3.875% interest rate, the APR for this loan type is 3.987%. The monthly payment schedule would be:
- 359 payments of $564.28 at an interest rate of 3.875%
- 1 payment of $565.94 at an interest rate of 3.875%
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.