Rates accurate as of February 13, 2020
|Type of Loan||Interest Rate||Annual Percentage Rate (APR)||Loan Fee|
5-year balloon / 25-year amortization. Loan amount 75% of lot sale price.
DEVELOPED LOT LOAN PAYMENT CALCULATIONS
Calculations based on $100,000.00 5-year balloon loan (25 year amortization) with 25% down payment (purchase) or equity position (refinancing). Payment calculations are principal and interest only and do not include taxes or insurance which may increase your monthly payment.
5-Year Balloon / 25 Year Amortization Loan: Interest rate 7.375%, Annual Percentage Rate (APR) 8.203%, 59 monthly payments of $730.88 each, 1 balloon payment of $92,323.55, total interest paid $35,445.47.
Equal Housing Lender