5.125% Rate (5.24% APR) 15-Yr Fixed-Rate Balloon with 30-Yr Amortization
The Interest Rate is 5.125% and the Annual Percentage Rate (“APR”) is 5.24%. There will be 179 monthly payments based on a 360-month amortization schedule, with a 180th and final balloon payment in an amount sufficient to pay off the entire remaining balance of the loan. For example, a $160,000 loan will be repaid in 179 monthly payments of $871.18 each and a 180th and final balloon payment in the amount of $110,134.40. These payments do not include taxes and required insurance, and the actual payment amounts will be greater. Interest Rate and APR are subject to change without notice and may vary based on the creditworthiness of the borrower, loan-to-value, loan amount, and loan purpose. The APR is effective June 24, 2022 and assumes a loan-to-value of 80%.
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