*Loan Examples/APRs

Examples of Products listed on mortgageexpertsusa.com.

Below are examples of fixed rate mortgages mentioned on mortgageexpertsusa.com. The rate, APR, and monthly payment examples are for illustrative purposes only. Actual interest rates and payments will likely vary from what is listed in the examples below as mortgage rates change frequently. Some products may not be available in all areas and some restrictions may apply. Please contact a licensed mortgage professional for the most up-to-date pricing and program information.

The examples below are based upon a purchase or rate and term refinance (no cash out) transaction of a single family, primary residence. Assumed borrower credit scores of 680 and up. We can do loans for borrowers with lower credit scores, however, rates and down payments may be different than what is listed below.

Conventional Loan Fixed Rate Examples:

30 Year Fixed Rate Mortgage
The principal, interest and MI Payment on a $200,000 30-Year Fixed-Rate loan at 6.875% and 97% loan-to-value (LTV) Is $1373.86. The annual percentage rate (APR) Is 7.445% with estimated finance charge of $5,600. The principal and interest payments, which will continue for 360 months until paid in full, do not include taxes and home insurance premiums, which will result in a higher actual monthly payment. Rates current as of 7/2/2024. subject to borrower approval.

20 Year Fixed Rate Mortgage
The principal and interest payment on a $200,000 20 year fixed rate loan at an interest rate of 4.875% and 97% loan-to-value (LTV) is $1,306.14. The Annual Percentage Rate (APR) is 5.59% with an estimated finance charge of $11,020. The principal and interest payment does not include taxes and insurance premiums, which will result in a higher actual monthly payment. The APR is calculated using the Actuarial Method. Rates current as of 10/15/19. For up to date interest rates (and APR), contact one of our licensed mortgage professionals.

15 Year Fixed Rate Mortgage
The principal and interest payment on a $200,000 20 year fixed rate loan at an interest rate of 4.875% and 97% loan-to-value (LTV) is $1,568.59. The Annual Percentage Rate (APR) is 5.602% with an estimated finance charge of $8,794. The principal and interest payment does not include taxes and insurance premiums, which will result in a higher actual monthly payment. The APR is calculated using the Actuarial Method. Rates current as of 10/15/19. For up to date interest rates (and APR), contact one of our licensed mortgage professionals.

10 Year Fixed Rate Mortgage
The principal and interest payment on a $200,000 10 year fixed rate loan at an interest rate of 4.5% and 97% loan-to-value (LTV) is $1,568.59. The Annual Percentage Rate (APR) is 5.506% with an estimated finance charge of $8,570. The principal and interest payment does not include taxes and insurance premiums, which will result in a higher actual monthly payment. The APR is calculated using the Actuarial Method. Rates current as of 10/15/19. For up to date interest rates (and APR), contact one of our licensed mortgage professionals.

FHA Loan Examples:

30 Year Fixed Rate FHA Mortgage
The principal, interest, and MI payment on a $203,500 30-year FHA fixed-rate loan at 6.250% and 96.5% loan-to-value (LTV) is $1367.82. The annual percentage rate (APR) is 7.074% with estimated finance charge of $5,600. payment includes a one-time upfront mortgage insurance premium (MIP) at 1.75% of the base loan amount and a monthly MIP calculated at 0.55% of the base loan amount. The 0.55% monthly MIP is required for a specific period of time regardless of your down payment or equity in your home. The principal and interest payments, which will continue for 360 months until paid in full, do not include taxes and home insurance premiums, which will result in a higher actual monthly payment. rates current as of 7/2/2024. Subject to borrower approval.

15 Year Fixed Rate FHA Mortgage
The principal and interest payment on a $203,500 15 year fixed rate mortgage at an interest rate of 3.661% and 96.5% loan-to-value is $1,587.60 ($1,470.93 P&I + $116.67 Monthly MIP). This is based upon a $207,254 sales price with 3.5% down and 1.75% one time upfront mortgage insurance premium (MIP) of the base loan amount of $200,000, which works out to $3,500, and an annual mortgage insurance premium at .7% of the base loan amount. The Annual Percentage Rate (APR) is 5.531% with $6,091 in fees and the 1.75% upfront MIP factored into the APR. Payment does not include taxes and insurance premiums. 15 year mortgages require monthly payments for 180 months. For home loans with an LTV greater than 90%, monthly MIP must be paid for the life of the loan. For home loans with a loan-to-value of 90% or less, the .7% MIP must be paid for the first 11 years of the loan or until the loan is paid off, whichever happens to come first.

VA Loan Examples:

30 Year VA Fixed Rate Mortgage
The principal and interest payment on a $206,600 loan (home purchase price is $200,000 with up to a 3.3% VA funding fee financed into the loan), 30 year VA fixed rate mortgage at an interest rate of 3.5% and 100% loan-to-value (zero down payment) is $927.73 . There are no monthly mortgage insurance premiums (MIP) with VA loans. VA Loans have up to a 3.3% up front funding fee depending on your service type and if you have used your eligibility before which may be rolled into your loan. The Annual Percentage Rate (APR) is 4.025% with $6,256 in fees factored into the APR. Payment does not include taxes and insurance premiums. 30 year mortgages require monthly payments for 360 months. VA Loans are only available to eligible active duty servicemen and woman, veterans, and qualifying spouses.

15 Year VA Fixed Rate Mortgage
The principal and interest payment on a $206,600 loan (home purchase price is $200,000 with up to a 3.3% VA funding fee financed into the loan), 15 year VA fixed rate mortgage at an interest rate of 3.74% and 100% loan-to-value (zero down payment) is $1,501.42 . There are no monthly mortgage insurance premiums (MIP) with VA loans. VA Loans have up to a 3.3% up front funding fee depending on your service type and if you have used your eligibility before which may be rolled into your loan. The Annual Percentage Rate (APR) is 4.694% with $6,256 in fees factored into the APR. Payment does not include taxes and insurance premiums. 15 year mortgages require monthly payments for 180 months. VA Loans are only available to eligible active duty servicemen and woman, veterans, and qualifying spouses.

Bank Statement Loan Examples

Bank Statement Loans
THE PRINCIPAL AND INTEREST PAYMENT ON A $208,000 30-YEAR FIXED-RATE LOAN AT 6.99% AND 80% LOAN-TO-VALUE (LTV) IS $1,382.43. THE ANNUAL PERCENTAGE RATE (APR) IS 7.517% WITH ESTIMATED FINANCE CHARGES OF $10,626. THE PRINCIPAL AND INTEREST PAYMENT DOES NOT INCLUDE TAXES AND INSURANCE PREMIUMS, WHICH WILL RESULT IN A HIGHER ACTUAL MONTHLY PAYMENT. RATES CURRENT AS OF 05/29/2020. THE APR IS CALCULATED USING THE ACTUARIAL METHOD.  

0% Down Loan Examples

Conventional – 30 Year Fixed
Information subject to change. Certain restrictions apply. Subject to approval of borrower and investor guideline requirements. Down payment is provided as a 2nd lien against the subject property. 2nd lien bears a 0% interest rate and cannot exceed a $15,000 loan amount. 2nd lien has no minimum monthly payment requirements, a term of 360 months, and is fully due as a balloon payment upon the occurrence of either a refinance of the 1st lien, payoff of the 1st lien, or the final payment of the amortization schedule of the 1st lien. Borrower must qualify based on Home Possible® guidelines. Some exclusions may apply. The principal, interest, and MI payment of a $350,000 30-year fixed-rate loan at 7.375% and 97% loan-to-value (LTV) is $2522.36. The annual percentage rate (APR) is 7.914% with estimated finance charges of $6,500. The principal and interest payments, which will continue for 360 months until paid in full, do not include taxes and home insurance premiums, which will result in a higher actual monthly payment. Rates current as of 7/2/2024. Subject to borrower approval. Some exclusions may apply.  

USDA Loan – 30 Year Fixed
The principal, interest, and MI payment on a $151,515 30-year USDA fixed-rate loan at 6.250% and 100% loan-to-value (LTV) is $986.78. The annual percentage rate (APR) is 6.971% with estimated finance charges of $5,600. Payment includes a one-time guarantee fee at 1.00% of the base loan amount and a monthly mortgage insurance payment calculated at 0.35% of the base loan amount. The 0.35% monthly mortgage insurance is required for the life of the loan regardless of your down payment or equity in your home. The principal, mortgage insurance, and interest payment does not include property taxes and home insurance premiums, which will result in a higher actual monthly payment. Rates current as of 7/2/2024. Subject to borrower approval.