Minimum Payment Mortgage Example A minimum payment loan allows a borrower to make a payment that is less than a regular payment and also less than an interest-only payment. ] 5 August 2008 | Home Mortgage Refinancing | Comments Off The minimum payment rate can vary based on different loans. It is important to note that the minimum payment [...This example is about a loan with a minimum payment rate of 1%. As stated earlier, FHA mortgage is a way for homebuyers to obtain financing for their homes. All home purchases require buyers to make a certain set percentage of the total purchase price, called the down payment. What the FHA mortgage insurance does therefore is to allow a homebuyer to make a modest down payment and obtain a mortgage for the balance of the purchase price.
