The information provided assumes the purpose of the loan is to purchase an existing single family home in Sedgwick County, Kansas to be used as a primary residence. Other assumptions are; an estimated property value and purchase price of $200,000, a $40,000 down payment and a loan amount of $160,000. An escrow (impound) account is required.
Conventional 10 Year Fixed Rate
At a 3.625% interest rate, the APR for this loan type is 3.789%. The payment schedule would be 119 payments of $1,591.56 at an interest rate of 3.625% and 1 payment of $1,591.51 at an interest rate of 3.625%.
If any escrow account for real estate taxes and homeowner’s insurance premiums is required or requested, the actual payment will be greater.