The information provided assumes the purpose of the loan is to purchase a property, with a loan amount of $640,000 and an estimated property value of $800,000. The property is located in Fall River, MA and is within Bristol county. The property is an existing single family home and will be used as a primary residence. An escrow (impound) account is required. The assumed credit score is 740.
At a 2.500% interest rate, the APR for this loan type is 2.572%. The monthly payment schedule would be:
179 payments of $4,267,.45 at an interest rate of 2.500%
1 payment of $4,267.68 at an interest rate of 2.500%
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.