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 |
5.990% |
NO |
Monthly Principal & Interest |
$2,079.54 |
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 |
$2,079.54 |
$2,079.54 |
|||||||||||
Mortgage Insurance |
+ 100.46 |
+ 4 |
|||||||||||
Estimate Escrow |
+ 670 |
+ 670 |
|||||||||||
Estimated Total |
$2,850.00 |
$2,753.54 |
|||||||||||
Estimated Taxes, Insurance |
|
Costs at Closing |
||
Estimated Closing Costs |
$14,946 |
Includes $12,024 in Loan Costs + $2,922 in Other Costs – $0.00 in Lender Credits. See page 2 for details. |
Estimated Cash to Close |
$2,074 |
Includes Closing Costs. See Calculating Cash to Close on page 2 for 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 |
$1,187 |
|
Homeowner’s Insurance Premium ( 12 months) |
$1,140 |
|
Mortgage Insurance Premium ( months) |
||
Prepaid Interest ($54.70 / day for 1 days @ 4.875%) |
$47 |
|
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) |
$2,922 |
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) |
$14,946 |
|
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 |
$2,074 |
D. TOTAL LOAN COSTS (A + B + C) |
$12,024 |
Thank you soooo much Joan, Patricia and Samantha for helping us purchase our first home ever. My wife and I are so thankful there are no words to express the joy we feel each time we open the door of our house. I say to my wife… wait is this our house? Then I remember that yes, we just closed few days ago…. LOL. Jokes aside everything you Joan have done for us ever since day one is beyond any words of appreciation. In our case, we truly feel you have been godsent. I still remember the day my wife and I went to Wells Fargo to be told our chances were very limited due to my taxes’ deductions and so we needed to wait 2 possibly 3 years???? My own bank Wells Fargo, Bank of America, Chase, Capital One and God knows how many places we tried. Each one gave us similar reasons but at the end the message was that we didn’t qualify and zero instructions. Well yes, the instructions were that our taxes didn’t reveal the true picture and health of my business operations. Great and now what? Nothing. And so, I stopped searching. Sometime later after talking to a client about my hopeless attempt to buy a house, he told me about a loan officer who showed up from time to time in the radio station offering home loan programs traditional banks would not offer. And so, I started googling until I found Clear Lending. I asked my colleague and bingo! This was the company. And so, I applied online, got a call back very fast, completed an application over the phone, sent income documents and then I was asked to go with my wife at their office. After one hour or so, I was given precise instructions to become a home owner with a government loan program. All I remember was… “If you follow my advice, we will make it happen”. And a year later, Joan got us the house of our dreams, negotiated best deal to cover most closing costs and closed our loan with a 4.25% interest rate when my own was offering me 4.875%???? I am so thankful I found this guy I still cannot believe the miracle he worked for us. Again, thank you Joan and your team for being a true servant and valuable tool to make possible what for me I was told bank after bank to stop searching as it was not possible. I will always refer you absolutely everyone desiring to buy a house. You are indeed the miracle man!!!!
FROM GOOGLE: I worked with Joan at Clear Lending. Joan worked not only as a lender but as a realtor showing me the houses. He communicated with me every step of the way and answered any questions I had. He was honest about the properties we looked at and was very helpful with suggestions for renovations I was interested in. He made suggestions for contractors after I closed on a house who offered fair prices and did exceptional work. Joan will go the extra step for you plus some and I would recommend him and Clear Lending to anyone who is interested in buying a new home. Joan is dedicated and will get the job done! He made my first home buying process enjoyable and easy. His honesty and hard work are appreciated! I have already recommended Joan to friends who have just started looking for new homes.
Joan Gallardo and his team have been great help in the home buying process. They go above and beyond to ensure all questions are answered and all due dates are met. I would highly recommend clear lending to any future home buyer.