Definition of mission for Students. 1 : a task that is assigned or begun. 2 : a task that is regarded as a very important duty She thinks of teaching as her mission. 3 : a group of missionaries. 4 : a group of people sent by a government to represent it in a foreign country.
15-Year Fixed-Rate Mortgage: The payment on a $200,000 15-year Fixed-Rate Loan at 2.875% and 70.00% loan-to-value (LTV) is $1369.18 with 2.125 points due at closing. The Annual Percentage Rate (APR) is 3.311%. Payment does not include taxes and insurance premiums.
Loan payment example: On a $152,625 loan ($150,000 base amount plus $2,625 for prepaid mortgage insurance) with a 3.5% down payment for 360 months at 4.00% interest rate, monthly payments would be $896.06. No customer paid closing costs, APR is 5.489%.