Buyer Qualification Worksheet Old Republic National Title Insurance Page 2

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PRINCIPAL & INTEREST CHART
Use the chart to determine your monthly
Interest Rate Factors Per $1,000
principal and interest payments at various
interest rates for either a 15- or 30-year term.
Interest Rate
Term 15 Years
Term 30 Years
3
6.91
4.22
1. Find the appropriate interest rate from
the chart.
3.25
7.02
4.35
3.5
7.15
4.49
2. Look across the column to the
4
7.27
4.63
appropriate term to determine your
interest rate factor.
4.25
7.52
4.92
4.5
7.65
5.07
3. Multiply the interest rate factor by your
4.75
7.78
5.22
loan amount in $1,000s.
5
7.91
5.37
5.25
8.04
5.52
5.5
8.17
5.68
REMEMBER:
Be sure to add your monthly
An Example
insurance premium and your property tax to
Interest Rate = 5.5
your principal and interest to determine your
total monthly payment.
Desired Term = 15 years
Interest Rate Factor per $1,000 = 8.17
NOTE:
These figures represent mere estimates.
Mortgage = $200,000
We strongly recommend that you talk with a
reputable mortgage specialist to determine
Monthly Principal & Interest = $1,634 (8.17 x 200)
the actual amount you will pay each month in
principal, interest, taxes and insurance (PITI).

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