Assuming a simple interest rate of 3.875%, the estimated APR on this loan is 3.987%.
The monthly payments, based on a $100,000 loan and a $125,000 purchase price (20% down payment) would be:
-
359 payments of $470.24
-
1 final payment of $470.38
WHEDA requires that funds be paid monthly & held in escrow for the annual payment of real
estate taxes, hazard insurance, and flood
insurance, if required. Therefore, your total monthly mortgage payment will be greater than
stated above.
Assuming a simple interest rate of 3.750%, the estimated APR on this loan is 5.741%.
The monthly payments, based on a $100,000 loan and a $125,000 purchase price (20% down payment) would be:
-
12 payments of $570.46
-
12 payments of $568.35
-
12 payments of $566.24
-
12 payments of $564.05
-
12 payments of $561.77
-
299 payments of $463.12
-
1 final payment of $463.12
These monthly payment amounts include the mortgage insurance premium.
Mortgage insurance is required for most FHA loans. The monthly mortgage insurance premium is
calculated based on the average annual outstanding balance, so it will vary from year to year.
| Principal & Interest: |
$463.12 |
| Mortgage Insurance Premium: |
$107.34 |
| Total: |
$570.46 |
WHEDA requires that funds be paid monthly & held in escrow for the annual payment of real
estate taxes, hazard insurance, and flood
insurance, if required. Therefore, your total monthly mortgage payment will be greater than
stated above.