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Residency, Social Security or Income in the US
All Government Programs
First-Time Buyer, Rural and Veterans Programs
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Upto 90% financing for
Purchases of up to $830,000.
USDA Loans for moderate income Families
0% down payment - 100% financing
| SALES PRICE: | $464,900 |
| LOAN TERM: | 30 years |
| PRODUCT: | Fixed Rate |
Loan Terms |
Can this amount increase after closing? |
|
Loan Amount |
$475,592 |
NO |
Interest Rate |
5.125% |
NO |
Monthly Principal & Interest |
$2,589.24 |
NO |
Does the loan have these features? |
||
Prepayment Penalty |
NO
|
|
Balloon Payment |
NO |
Projected Payments |
|||||||||||||
Payment Calculation |
Years 1-30 |
||||||||||||
Payment Calculation |
$2,589.24 |
$ |
|||||||||||
Mortgage Insurance |
+ __ |
+ __ |
|||||||||||
Estimate Escrow |
+ $832.00 |
+ __ |
|||||||||||
Estimated Total |
$3,422.24 |
$ |
|||||||||||
Estimated Taxes, Insurance |
|
||||||||||||
Costs at Closing |
||
Estimated Closing Costs |
$27,823 |
Includes $22,774 in Loan Costs + $5,049 in Other Costs – $0.00 in Lender Credits. See page 2 for details. |
Estimated Cash to Close |
$6,481 |
Includes Closing Costs. See Calculating Cash to Close on page 2 for details. |
Projected Payments |
||
A. Origination Charges |
$6,814 |
|
1.396 % of Loan Amount (Discount Points) |
$6,639 |
|
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 |
$2,253 |
|
Homeowner’s Insurance Premium ( 12 months) |
$2,185 |
|
Mortgage Insurance Premium ( months) |
||
Prepaid Interest ($67.71 / day for 1 days @ 5.125%) |
$67.71 |
|
PropertyTaxes ( months) |
||
B. Services You Cannot Shop For |
$11,994 |
|
Appraisal Fee |
$670 |
|
Contract Processing Fee |
$500 |
|
Credit Report |
$56 |
|
Flood Certification Fee |
$6 |
|
Tax Service Fee |
$69 |
|
VA Funding Fee |
$10,693 |
|
G. Initial Escrow Payment at Closing |
$2,496 |
|
Homeowner’s Insurance $182.09 / month for 3 mo. |
$546 |
|
Mortgage Insurance per month for 0 mo. |
||
Property Taxes $650 per month for 3 mo. |
$1,950 |
|
H. Other |
$175 |
|
HOA Transfer Fees |
$175 |
|
I. TOTAL OTHER COSTS(E+F+G+H) |
$5,049 |
|
C. Services You Can Shop For |
$3,966 |
|
Survey Fee |
$450 |
|
Title - Abstract/Title Search Fee |
$100 |
|
Title - Lender's Title Insurance |
$2,855 |
|
Title - Settlement/Escrow Fee |
$495 |
|
Title - Tax Certificate Fee |
$66 |
|
J. TOTAL CLOSING COSTS |
$27,823 |
|
D + I |
$27,823 |
|
Lender Credits |
||
Calculating Cash to Close |
||
Total Closing Costs (J) |
$27,823 |
|
Closing Costs Financed (Paid from your Loan Amount) |
-$10,693 |
|
Down Payment/Funds from Borrower |
$0.00 |
|
Deposit |
-$4,649 |
|
Funds for Borrower |
$0.00 |
|
Seller Credits |
-$6,000 |
|
Adjustments and Other Credits |
$0.00 |
|
Estimated Cash to Close |
$6,481 |
|
D. TOTAL LOAN COSTS (A + B + C) |
$22,774 |
|
Joan was great, very transparent, and got me almost a percent lower with less money out of pocket than what my builder's lender was offering! Highly recommend
Initially, I left a bad review for this mortgage company. However, I can honestly say I’m absolutely amazed at the customer service at this company. Shortly after leaving some negative feedback the company owner personally contacted me to correct the mistake and address my concerns. I guess I had spoken with a relatively new person (completely understandable) who wasn’t 100% sure about the way things worked. The company owner politely informed me of this and worked very hard to go out of his way to come up with a solution for me. My review has been updated accordingly. I am VERY impressed with this company and looking forward to potentially working with them. Would recommend!
It was a pleasure to work with Joan and Elena at Clear Lending Mortgage. They guided us through the process step by step and were always available to answer questions. They worked with our situation, and made it possible for us to purchase our first home. I would recommend them without reservation.
