Refinance Loan Type - 30 Year Jumbo (Bad Credit) Refinance - February 3, 2007
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Loan Basics The loan example takes place on February 3, 2007. The name of this borrower is Eric. This borrower's goal with the mortgage is to get a refinance done on the property. Property Summary This property would be considered a condominium. This piece of real estate is in Waco, Texas. This property type is a primary residence. Mortgage Background This borrower's loan term in years is 30. The current credit score is 720. The mortgage will have stated documentation. Today's current mortgage rates The interest rate for this new loan will be 7.50%. The APR is calculated to be 7.60%. Mortgage Amount This real estate is currently worth $383,750. The loan on the property is a $245,600. The amount of cash received is around $61,400. The total new loan size is $307,000. The loan to value ratio on the property is 80%. The Monthly Payment The monthly payment is $2,147. An interest only monthly loan payment would be $1,919. An interest only loan payment each month saves the borrower $228. Articles: |
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