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 30 Year Fixed Rate
At a 4.000% interest rate, the APR for this loan type is 4.065%. The payment schedule would be 359 payments of $763.86 at an interest rate of 4.000% and 1 payment of $766.83 at an interest rate of 4.000%.
If any escrow account for real estate taxes and homeowner’s insurance premiums is required or requested, the actual payment will be greater.