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 $180,000, a $3,494 down payment and a loan amount of $176,506. An escrow (impound) account is required. The rate lock period is 60 days and the assumed credit score is 740.
FHA 30 Year Fixed Rate
At a 3.500% interest rate, the APR for this loan type is 4.537%. The payment schedule would be 359 payments of $914.39 at an interest rate of 3.500% and 1 payment of $912.00 at an interest rate of 3.500%.
If any escrow account for real estate taxes and homeowner’s insurance premiums is required or requested, the actual payment will be greater.