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.
So if you only have 5% to put down, youâll be looking at whatâs called an 80/15/5 loan. Your first mortgage will cover 80% of the home value, your second mortgage will cover 15%, and youâll be on the hook for that last 5% as a downpayment. If you have 15% of the home value to put down, youâll need an 80/5/15 loan.