The information provided assumes the purpose of the loan is to purchase a property, with a loan amount of $1,149,826.00 and an estimated property value/price of $1,642,609.00. The property is located in NY and is within Nassau 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 60 days and the assumed credit score is 740.
At a 7.250% initial interest rate, the APR for this loan type is 7.508% subject to increase.
Based on current market conditions, the payment schedule would be:
- 120 monthly payments of $7,843.84 at an interest rate of 7.250%
- 239 monthly payments of $8,223.95 at an interest rate of 7.875%
- 1 monthly payment of $8,224.88 at an interest rate of 7.875%
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.