Mon - Fri 11:00 am - 7:30 pm / Sat Appointment Only

Graphics of Whatsapp Application Link

Home Loan Scenario Questions
Web en Español Hablamos Español
HOME / INTERES RATES

Interest Rates - CLICK HERE - Rates are subject to change without notice

*For detailed Loan Estimate Rates Terms and Conditions advertised here please navigate this page from a desktop version. Thanks.

USDA Texas Rates

SALES PRICE: $343,750
LOAN TERM: 30 years
PRODUCT: Fixed Rate

Loan Terms

Can this amount increase after closing?

Loan Amount

$347,222

NO

Interest Rate

5.125%

NO

Monthly Principal & Interest
See Projected Payments below for your Estimated Total Monthly Payment

$1,890.58

NO

Does the loan have these features?

Prepayment Penalty

NO

Balloon Payment

NO

Projected Payments

Payment Calculation

Years 1-7

Years 8-30

Payment Calculation

$1,890.58

$1,890.58

Mortgage Insurance

 +

100.46

 +

4

Estimate Escrow
Amount can increase over time

 +

670

 +

670

Estimated Total
Monthly Payment

$2,661

$2,564

Estimated Taxes, Insurance
& Assessments
Amount can increase over time

$670
month

This estimate includes

In escrow?

Property Taxes

YES

Homeowner’s Insurance

YES

Other:

See Section G on page 2 for escrowed property costs. You must pay for other property costs separately.

Costs at Closing

Estimated Closing Costs

$14,947

Includes $12,024 in Loan Costs + $2,923 in Other Costs – $0.00 in Lender Credits. See page 2 for details.

 
 

Estimated Cash to Close

$2,075

Includes Closing Costs. See Calculating Cash to Close on page 2 for details.

Closing Cost Details

Projected Payments

A. Origination Charges

$4,240

0.125 % of Loan Amount (Points)

$1,965

Loan Origination Fee

$1,000

Transaction Fee

$575

Warehouse Fee

$700










Other Costs

E. Taxes and Other Government Fees

$125

Recording Fees and Other Taxes

$125

Transfer Taxes




F. Prepaids

$1,188

Homeowner’s Insurance Premium ( 12 months)

$1,140

Mortgage Insurance Premium ( months)


Prepaid Interest ($48.75 / day for 1 days @ 5.125%)

$48

PropertyTaxes ( months)


B. Services You Cannot Shop For

$4,922

Appraisal Fee

$525

Contract Processing Fee

$500

Credit Report

$50

Document Preparation Fee

$300

Flood Certification

$6

Tax Service Fee

$69

USDA Guarantee Fee

$3472









G. Initial Escrow Payment at Closing

$1,435

Homeowner’s Insurance $95.00 per month for 3 mo.

$285

Mortgage Insurance per month for 0 mo.


Property Taxes $575.00 per month for 2 mo.

$1,150



H. Other

$175

HOA Transfer Fees

$175

I. TOTAL OTHER COSTS(E+F+G+H)

$2,923

C. Services You Can Shop For

$2,862

Survey Fee

$406

Title - Lender's Title Insurance

$2,040

Title - Settlement/Escrow Fee

$350

Title - Tax Certificate Fee

$66










J. TOTAL CLOSING COSTS

$14,946

D + I

$14,946

Lender Credits


Calculating Cash to Close

Total Closing Costs (J)

$14,947

Closing Costs Financed (Paid from your Loan Amount)

-$3,472

Down Payment/Funds from Borrower

$0.00

Deposit

-$3,400

Funds for Borrower

$0.00

Seller Credits

-$6,000

Adjustments and Other Credits

$0.00

Estimated Cash to Close

$2,075

D. TOTAL LOAN COSTS (A + B + C)

$12,024

How to get best interest rates in Houston...

 

When purchasing a home searching for the best interest rates in Houston is in many occasions a complicated full-time work.

Buying a house involves many complex decisions and besides finding the right house, it would be fair to say the most important task is the best mortgage loan interest rate and of course your credit report will play an important role. Whether we seek for a Conventional Loan, VA Loan or FHA Loan, making sure we will not be paying more interest than we should otherwise with a better interest rate over a 15- or 30-year term is extremely important. Remember even with poor credit scores, home loans for bad credit do exist and thus this is a job we must go thru to find the right mortgage lender towards home ownership. It is wise for first time homebuyers to ask Loan Officer minimum credit score requirements for each loan program we may be interested in to buy a home.

Consider the following hypothetical scenario which in no way is an offer or extension for credit at 2 different possible interest rates assuming $0 closing costs and no mortgage insurance. We offered $325,000 for the perfect house and seller has accepted. Therefore, the following numbers:

Purchase price: $325,000
Down Payment: $16,250 (5%)
Loan Amount: $308,750
Option 1 at 4.875% - Monthly payment: $1,633.93
Option 2 at 4.625% - Monthly payment: $1,587.41

If we were going to close the purchase of such house at the higher interest rate of 4.875% and a payment of $1,633.93, the opportunity cost of not closing at the lower rate of 4.625% would be $34,299.30. Why? Because if we were to choose higher interest rate and thus higher monthly payment if applied to lower rate on a 30-year mortgage, we would accelerate the term of our loan by 21 payments at $1,633.93 would equals the $34,299.30. And any other effort to pay more would equally accelerate faster the repayment of the note.

But finding the best interest rates in Houston not only depends on finding the cheapest bank but also finding the best partnership to complete the home purchase. Clear Lending offers the best interest rates in Houston by setting up Realtor-Loan Officer partnerships where better rates can be obtained than most competitors without the need to waste time searching for dozens of banks and lenders.

Simply apply and we will start your home loan approval with all your options to compare.

 

Customers Reviews:

  • Tristan Magmoyao • November 26, 2015

    Great experience with this lender! Friendly and professional. They were always quick with responses to my questions and concerns. I would recommend them in a heartbeat. Everything went smoothly. Not only did they respond to all emails but constantly called me keeping me up to date. Thank you Joan.

  • Alejandro Paredes • April 18, 2018

    First and foremost I want to thank the entire Clear Lending team for this incredible experience. Joan Gallardo was very professional and honest throughout this whole process. He took the time to explain everything step by step and at any time of day. I am a DACA recipient and that wasn't no issue at all for Mr. Joan to get me a loan for the low rate of 3.875% interest. To me that is amazing and very appreciated because other loan companies told me I was not able to get a interest rate like that because I was a DACA recipient. I highly recommend Clear Lending for DACA recipients because they opened the doors for me so I can accomplish my dreams of purchasing my first home. Patricia was also very attentive to my process and helpful every step of the way. Mrs. Rosa Iraheta was my realtor who helped me look for the home and made sure it met all my expectations. I can't thank you enough for all the time and hard work you and the whole Clear Lending team put for me and my family to be here today in our new home. May God bless you all! And Thank you!

  • Heriberto Garcia • November 18, 2021

    Muchas gracias clear lending por la ayuda, entrega y paciencia hasta conseguirme el prestamo hipotecario. Tras dos intentos fallidos doy gracias a Dios les encontre para intentar nuevamente y con exito lograr lo que nuestra familia tanto deseaba. Es una gran felicidad la estabilidad que uno siente al final del dia cuando llega a casa y ustedes han sido los artifices de este logro. Gracias por todo y no duden que les recondare a quien necesite una ayuda de verdad. Heriberto.

Get Your Very Latest Rate Quote Now!

If CELL Phone number is not valid we will not email your Quote
CAPTCHA CAPTCHA