SALES PRICE: | $295,000 |
LOAN TERM: | 30 years |
PRODUCT: | Fixed Rate |
Loan Terms |
Can this amount increase after closing? |
|
Loan Amount |
$289,656 |
NO |
Interest Rate |
4.99% |
NO |
Monthly Principal & Interest |
$1,553.17 |
NO |
Does the loan have these features? |
||
Prepayment Penalty |
NO
|
|
Balloon Payment |
NO |
Projected Payments |
|||||||||||||
Payment Calculation |
Years 1-30 |
Years |
|||||||||||
Payment Calculation |
$1,553.17 |
$ |
|||||||||||
Mortgage Insurance |
+ 202.00 |
+ |
|||||||||||
Estimate Escrow |
+ 520.00 |
+ |
|||||||||||
Estimated Total |
$2,275.17 |
$ |
|||||||||||
Estimated Taxes, Insurance |
|
Costs at Closing |
||
Estimated Closing Costs |
$15,855 |
Includes $13,303 in Loan Costs + $3,807 in Other Costs – $0.00 in Lender Credits. See page 2 for details. |
Estimated Cash to Close |
$8,158 |
Includes Closing Costs. See Calculating Cash to Close on page 2 for details. |
Projected Payments |
||
A. Origination Charges |
$4,385 |
|
1.960 % Loan Origination (Points) |
$4,209 |
|
Lender Document Attorney Preparation Fee |
$175 |
|
Other Costs |
||
E. Taxes and Other Government Fees |
$125 |
|
Recording Fees and Other Taxes |
$125 |
|
Transfer Taxes |
||
F. Prepaids |
$1,872 |
|
Homeowner’s Insurance Premium ( 12 months) |
$1832 |
|
Mortgage Insurance Premium ( months) |
||
Prepaid Interest ($40.15 / day for 1 days @ 4.99 %) |
$40.15 |
|
PropertyTaxes ( months) |
B. Services You Cannot Shop For |
$6,276 |
|
Appraisal Fee |
$670 |
|
Credit Report Fee |
$50 |
|
Contract Processing Fee |
$500 |
|
Flood Certification |
$6 |
|
Tax Service Fee |
$69 |
|
Up-Front Mortgage Insurance Premium |
$4,981 |
|
G. Initial Escrow Payment at Closing |
$1,560 |
|
Homeowner’s Insurance $152.67 per month for 3 mo. |
$458 |
|
Mortgage Insurance per month for 0 mo. |
||
Property Taxes $367.26 per month for 3 mo. |
$1,102 |
|
H. Other |
$250 |
|
HOA Transfer Fees |
$250 |
|
I. TOTAL OTHER COSTS(E+F+G+H) |
$3,807 |
C. Services You Can Shop For |
$2,642 |
|
Survey Fee |
$450 |
|
Title - Lender's Title Insurance |
$1676 |
|
Title - Settlement/Escrow Fee |
$450 |
|
Title - Tax Certificate Fee |
$66 |
|
J. TOTAL CLOSING COSTS |
$15,854 |
|
D + I |
$18,854 |
|
Lender Credits |
Calculating Cash to Close |
||
Total Closing Costs (J) |
$15,854 |
|
Closing Costs Financed (Paid from your Loan Amount) |
-$4,981 |
|
Down Payment/Funds from Borrower |
$10,325 |
|
Deposit (1% of Purchase Contract) |
-$2,950 |
|
Funds for Borrower |
$0.00 |
|
Seller Credits |
-$10,000 |
|
Adjustments and Other Credits |
$0.00 |
|
Estimated Cash to Close |
$8,158 |
D. TOTAL LOAN COSTS (A + B + C) |
$13,303 |
I am so so excited, I have closed on my home and it was all made possible with the help of Joan and his team (Patricia and Elena) at Clear Lending Home Mortgage. When I first started the process of getting approval for my home, I was nervous and scared of the unknown of being a first time homebuyer and with the Interest Rates steadily increasing would I be able to get a good rate. Well after speaking to Joan for the first time via phone he assured me he would do his best to make it happen and he quickly put my mind at ease. Not only did I close in a little over 30 days, he also managed to get me an Interest Rate of 3.671% . From beginning to the end of the process, the staff at Clear Lending was professional, quick and took great care of making sure that I was informed every step of they way. A special "Thank You" to Joan.. for your hard work, honesty, and dedication in being a dream maker and making my dream of becoming a homeowner true!! I would gladly recommend Clear Lending to anyone looking to purchase a home.
Thanks Mr. Joan and all your team for your amazing help. I am so happy with my new house and equally satisfied with our loan. My husband and I will refer you anyone we come across in need of a good loan officer and realtor. I also like to thank Patricia for her patience guiding us throughout the entire process.
I want to start this review saying big thanks to the Clear Lending team especially to Joan Gallardo because without him None of this would be possible..., We Choose Clear Lending initially based on positive online reviews, and couldn’t have been more satisfied with the process. While the process of home buying was much more difficult than we’d imagined, based on the levels of competitiveness, Joan gave us excellent guidance, unflagging availability, and deep knowledge about a really wide range of homes that we looked at. He helped us get into our dream home with minimal stress, thanks to him and his team we got the house that I and my family were looking for, he was more than communicative, understanding, and patient as we dragged him through dozens of open houses, Joan always kept a very communicative attitude and had the answer for each of our questions no matter what day of the week was o how late. Most important to us, Joan was always honest with us about what he thought about each property, was always available and helpful, and we always felt that he truly had our best interests at heart. In the future, if we ever decide to move, we will definitely use Joan again to both sell our home and find a new one. THANKS FOR EVERYTHING CLEAR LENDING!!!!