Mortgage Payment Example - Tech CU
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  • Conventional Mortgage Payment Examples

    30 Year Fixed Rate Payment Example

    The information provided assumes the purpose of the loan is to purchase a property, with a loan amount of $322,700 and an estimated property value of $410,000. The property is located in San Jose, CA and is within Santa Clara county. The property is an existing single family home and will be used as a primary residence. An escrow (impound) account will not be established. The rate lock period is 30 days and the assumed credit score is 740.

    At a 4.375% interest rate, the APR for this loan type is 4.440%. The monthly payment schedule would be:

    • 359 payments of $1,611.19 at an interest rate of 4.375%
    • 1 payment of $1,612.54 at an interest rate of 4.375%

    If an escrow account is required or requested, the actual monthly payment will also include amounts for real estate taxes and homeowner's insurance premiums.


    15 Year Fixed Rate Payment Example

    The information provided assumes the purpose of the loan is to purchase a property, with a loan amount of $322,700 and an estimated property value of $410,000. The property is located in San Jose, CA and is within Santa Clara county. The property is an existing single family home and will be used as a primary residence. An escrow (impound) account will not be established. The rate lock period is 30 days and the assumed credit score is 740.

    At a 3.875% interest rate, the APR for this loan type is 3.987%. The monthly payment schedule would be:

    • 179 payments of $2,366.81 at an interest rate of 3.875%
    • 1 payment of $2,366.68 at an interest rate of 3.875%

    If an escrow account is required or requested, the actual monthly payment will also include amounts for real estate taxes and homeowner's insurance premiums.


    3/1 Year ARM Payment Example

    The information provided assumes the purpose of the loan is to purchase a property, with a loan amount of $322,700 and an estimated property value of $410,000. The property is located in San Jose, CA and is within Santa Clara county. The property is an existing single family home and will be used as a primary residence. An escrow (impound) account will not be established. The rate lock period is 30 days and the assumed credit score is 740.

    At a 3.500% initial interest rate, the APR for this loan type is 3.268%, subject to increase. Based on current market conditions, the monthly payment schedule would be:

    • 36 payments of $1,449.07 at an interest rate of 3.500%
    • 323 payments of $1,387.77 at an interest rate of 3.125%
    • 1 payment of $1,386.33 at an interest rate of 3.125%

    If an escrow account is required or requested, the actual monthly payment will also include amounts for real estate taxes and homeowner's insurance premiums.


    5/1 Year ARM Payment Example

    The information provided assumes the purpose of the loan is to purchase a property, with a loan amount of $322,700 and an estimated property value of $410,000. The property is located in San Jose, CA and is within Santa Clara county. The property is an existing single family home and will be used as a primary residence. An escrow (impound) account will not be established. The rate lock period is 30 days and the assumed credit score is 740.

    At a 3.625% initial interest rate, the APR for this loan type is 3.361%, subject to increase. Based on current market conditions, the monthly payment schedule would be:

    • 60 payments of $1,471.68 at an interest rate of 3.625%
    • 299 payments of $1,394.48 at an interest rate of 3.125%
    • 1 payment of $1,393.54 at an interest rate of 3.125%

    If an escrow account is required or requested, the actual monthly payment will also include amounts for real estate taxes and homeowner's insurance premiums.

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