5 Year Fixed Interest Only Purchase - South Lake Tahoe, California Example - February 1, 2007
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LendingTree Loan
Mortgage Profile This loan example is for February 1, 2007. The loan borrower's name is George. This borrower wants to purchase real estate. Property Example This property would be considered a single family residence. This real estate is in South Lake Tahoe, California. This property would be described as a primary residence. Loan Type This borrower's loan term in years is 30. The current credit score is 750. This borrower's mortgage will have stated documentation. Today's loan rates The example mortgage rate on this new loan will be 6.38%. The mortgage's annual percentage rate is 6.47%. The Mortgage Amount The property would be considered worth around $422,500. The percent down payment is 20%. The new total loan size will be $338,000. The loan to property value (LTV) ratio is 80%. Monthly Loan Payment The payment each month is $2,109. If the loan were interest only the monthly payment would be $1,796. This is lower than a regular monthly payment by $313.
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