The information provided assumes the purpose of the loan is to purchase a property, with a loan amount of $150,000 and an estimated property value of $187,500.  The property is located in Albany, NY and is within Albany county.  The property is an existing single family home and will be used as a primary residence.  An escrow (impound) account is required.  The rate lock period is 60 days and the assumed credit score is 740.

At a 5.625% interest rate, the APR for this loan type is 6.528%.  The monthly payment schedule would be:

• 12 payments of $978.00 at an interest rate of 5.625%
• 12 payments of $976.65 at an interest rate of 5.625%
• 12 payments of $975.22 at an interest rate of 5.625%
• 12 payments of $973.71 at an interest rate of 5.625%
• 12 payments of $972.11 at an interest rate of 5.625%
• 12 payments of $970.42 at an interest rate of 5.625%
• 12 payments of $968.63 at an interest rate of 5.625%
• 12 payments of $966.74 at an interest rate of 5.625%
• 12 payments of $964.74 at an interest rate of 5.625%
• 12 payments of $962.62 at an interest rate of 5.625%
• 12 payments of $960.39 at an interest rate of 5.625%
• 227 payments of $878.60 at an interest rate of 5.625%
• 1 payment of $874.48 at an interest rate of 5.625%

The monthly payment amounts quoted include the mortgage insurance premium.

Mortgage insurance is required for most FHA loans.  The monthly mortgage insurance premium is calculated based on the average annual outstanding balance, so it will vary from year to year.