SALES PRICE: | $343,750 |
LOAN TERM: | 30 years |
PRODUCT: | Fixed Rate - Rates are subject to change without notice. |
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 |
Thanks Joan, Patricia and Samantha for all your help throughout this process. My wife and I cannot thank you enough for making our dream to own a house possible. I will recommend all my family and friends. Thanks again.
We did not make appointment at our first visit at Clear lending and took great care of me and my wife. We are first time buyers and they explained to us in detail the entire process from home search to closing. I cant thank Joan & Patricia enough for all your help from day one. I truly recommend these people.
Joan, and his team help my family get into our house. They helped with our credit score when a bank would not approve us I Would highly recommend them.