At a 2.875% interest rate, the APR for this loan type is 3.650%. The monthly payment schedule would be:

  • 12 payments of $878.71 at an interest rate of 2.875%
  • 12 payments of $876.12 at an interest rate of 2.875%
  • 12 payments of $873.45 at an interest rate of 2.875%
  • 12 payments of $870.71 at an interest rate of 2.875%
  • 12 payments of $867.88 at an interest rate of 2.875%
  • 12 payments of $864.98 at an interest rate of 2.875%
  • 12 payments of $861.98 at an interest rate of 2.875%
  • 12 payments of $858.90 at an interest rate of 2.875%
  • 12 payments of $855.74 at an interest rate of 2.875%
  • 12 payments of $852.47 at an interest rate of 2.875%
  • 12 payments of $849.12 at an interest rate of 2.875%
  • 227 payments of $759.88 at an interest rate of 2.875%
  • 1 payment of $758.29 at an interest rate of 2.875%


This payment schedule is based on a $183,150 loan on a $240,000 property in Iron county, UT.

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.

$759.88
$118.83
$878.71

The actual monthly payment will also include amounts for real estate taxes and homeowner's insurance premiums.

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