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

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JUMBO Mortgage Rates

SALES PRICE: $3,750,000
LOAN TERM: 30 years
PRODUCT: Fixed Rate

Loan Terms

Can this amount increase after closing?

Loan Amount

$3,000,000

NO

Interest Rate

5.750%

NO

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

$17,507.19

NO

Does the loan have these features?

Prepayment Penalty

NO

Balloon Payment

NO

Projected Payments

Payment Calculation

Years 1-30

Years

Payment Calculation

$17,507.19

$__

Mortgage Insurance

+

__

+

__

Estimate Escrow
Amount can increase over time

+

6,795

+

__

Estimated Total
Monthly Payment

$24,302.19

$__

Estimated Taxes, Insurance
& Assessments

Amount can increase over time

$6,795
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

$97,983

Includes $61,110 in Loan Costs + $36,873 in Other Costs – $0 in Lender Credits. See page 2 for details.

Estimated Cash to Close

$810,843

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

Closing Cost Details

Projected Payments

A. Origination Charges

$36,025

1.198 % of Loan Amount (Points)

$35,940

Document Review Fee

$85

Other Costs

E. Taxes and Other Government Fees

$125

Recording Fees and Other Taxes

$125

Transfer Taxes

F. Prepaids

$16,013

Homeowner’s Insurance Premium ( 12 months)

$15,540

Mortgage Insurance Premium ( months)

Prepaid Interest ( $473 / day for 1 days @ 5.750%)

$473

PropertyTaxes ( months)

B. Services You Cannot Shop For

$3,438

Appraisal Fee

$2,500

Contract Processing Fee

$500

Credit Report

$44

Document Preparation Fee

$300

Flood Certification

$15

Tax Service Fee

$79

G. Initial Escrow Payment at Closing

$20,385

Homeowner’s Insurance $1,295 per month for 3 mo.

$3,885

Mortgage Insurance per month for 0 mo.

Property Taxes $1,200 per month for 3 mo.

$16,500

H. Other

$350

HOA Transfer Fees

Title - Owner's Title Insurance

$250
$100

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

$36,873

C. Services You Can Shop For

$21,647

Survey Fee

$2,000

Title - Lender's Title Insurance

$19,231

Title - Settlement/Escrow Fee

$350

Title - Tax Certificate Fee

$66





J. TOTAL CLOSING COSTS

$97,983

D + I

$97,983

Lender Credits

Calculating Cash to Close

Total Closing Costs (J)

$97,983

Closing Costs Financed (Paid from your Loan Amount)

$0.00

Down Payment/Funds from Borrower

$750,000

Deposit

-$37,500

Funds for Borrower

$0

Seller Credits

$0.00

Adjustments and Other Credits

$0.00

Estimated Cash to Close

$810,483

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

$61,110

How to find and compare home mortgage loan interest rates...

 

The process of 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 is the mortgage loan interest rate. Making sure we will not be paying more interest than we would otherwise with a lower interest rate over a 15- or 30-year term is extremely important.

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

 

Customers Reviews:

  • Mireia Rivera • March 03, 2020

    My husband and I are very happy to give these 5 stars. From Haverhill, Massachusetts to Houston TX. ClearLending, with open doors, and with limitless help of Patricia and Joan, today we can say “We are home owner’s”. We are truly blessed! There was never an unanswered question or unanswered phone call. There were with us step by step even though we were 1900 miles away. We would like yo take this opportunity to say thank you! You guys are great!

  • Luis Teran • January 05, 2021

    As a DACA recipient and first-time home buyer, finding a team that was able to work with us seemed challenging. Luckily, I came across Clear Lending where Joan Gallardo and his team went above and beyond to help us through the process of home buying. Joan is very experienced and knowledgeable and was always there when we needed him, he was able to answer all our questions and gave us valuable advice. What I like most is that even after closing, he has been there for us when we have any other home-related questions or concerns, and am confident he will be there for us for years to come. I definitely recommend the services provided at Clear Lending to anyone looking to buy a home.

  • Antonia Gonzalez • October 25, 2023

    Thank you so much to the entitire team. I cant thank you enough for helping me find my dearm house and got a loan approved at a better rate than my own bank. Cannot belive it!!! Thanks Again.

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