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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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580 Credit Scores!!!
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Contact us to analyze your options.
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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
| CONSTRUCTION LOAN: | $766,550 |
| CONSTRUCTION TERM: | 30 years |
| PRODUCT: | Fixed Rate |
Loan Terms |
Can this amount increase after closing? |
|
Loan Amount |
$766,550 |
NO |
Interest Rate |
7.250% + 0.75% |
NO |
Monthly Principal & Interest |
$5,110.33 |
YES |
Does the loan have these features? |
||
Prepayment Penalty |
NO
|
|
Balloon Payment |
NO |
Projected Payments |
|||||||||||||
Payment Calculation |
Years 1 |
Years 2 - 30 |
|||||||||||
Payment Calculation |
$5,110.33 |
$5,229.22 |
|||||||||||
Mortgage Insurance |
+ __ |
+ __ |
|||||||||||
Estimate Escrow |
+ 570 |
+ 570 |
|||||||||||
Estimated Total |
$5,680 |
$5,799 |
|||||||||||
Estimated Taxes, Insurance |
|
||||||||||||
Costs at Closing |
||
Estimated Closing Costs |
$17,584 |
Includes $14,282 in Loan Costs + $3,302 in Other Costs – $0 in Lender Credits. See page 2 for details. |
Estimated Cash to Close |
$95,556 |
Includes Closing Costs. See Calculating Cash to Close on page 2 for details. |
Projected Payments |
||
A. Origination Charges |
$10,025 |
|
1 % of Loan Amount (Points) |
$7,665 |
|
Document Review Fee |
$85 |
|
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 |
$1,292 |
|
Homeowner’s Insurance Premium ( 12 months) |
$1,140 |
|
Mortgage Insurance Premium ( months) |
||
Prepaid Interest ($152.26 / day for 1 days @ 7.25%) |
$152 |
|
PropertyTaxes ( months) |
||
B. Services You Cannot Shop For |
$1,394 |
|
Appraisal Fee |
$1,000 |
|
Contract Processing Fee |
$500 |
|
Credit Report |
$50 |
|
Document Preparation Fee |
$500 |
|
|
Flood Certification |
$6 |
|
Tax Service Fee |
$69 |
|
G. Initial Escrow Payment at Closing |
$1,710 |
|
Homeowner’s Insurance $85 per month for 3 mo. |
$255 |
|
Mortgage Insurance per month for 0 mo. |
||
Property Taxes $475 per month for 3 mo. |
$1,425 |
|
H. Other |
$175 |
|
HOA Transfer Fees |
$175 |
|
I. TOTAL OTHER COSTS(E+F+G+H) |
$3,302 |
|
C. Services You Can Shop For |
$2,863 |
|
Survey Fee |
$1,375 |
|
|
Title - Lender's Title Insurance |
$2,041 |
|
Title - Settlement/Escrow Fee |
$350 |
|
Title - Tax Certificate Fee |
$66 |
|
J. TOTAL CLOSING COSTS |
$17,584 |
|
D + I |
$17,584 |
|
Lender Credits |
||
Calculating Cash to Close |
||
Total Closing Costs (J) |
$17,584 |
|
Closing Costs Financed (Paid from your Loan Amount) |
$0.00 |
|
Down Payment/Funds from Borrower |
$85,172 |
|
Deposit |
-$7,200 |
|
Funds for Borrower |
$0 |
|
Seller Credits |
$0.00 |
|
Adjustments and Other Credits |
$0.00 |
|
Estimated Cash to Close |
$95,556 |
|
D. TOTAL LOAN COSTS (A + B + C) |
$14,282 |
|
I highly recommend Joan. I reached out to Clear Lending because I was not receiving information and good customer service from the first mortgage company I reached out to. Joan was extremely professional,informative and patient. He spoke to me for over 45 minutes and answered so many questions that I had as a first-time home buyer. I was looking for the Michael Jordan of mortgage brokers and Joan at Clear Lending is exactly that! He definitely cares and works very hard To help his clients in any way that he can.
Great and very professional experience. They stay true to their slogan Grandiosa Experiencia muy profesional trabajo, Gracias
I'd like to say thank you for your dedication and exceptional service have truly exceeded our expectations. Clear Lending went above and beyond to assist me. Highly recommend Joan and the entire team!
