Rates accurate as of October 22, 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 6.000%, Annual Percentage Rate (APR) 6.728%, 59 monthly payments of $644.30 each, 1 balloon payment of $90,576.47, total interest paid $28,590.17.
Equal Housing Lender