Mon - Fri 10:00 am - 7:30 pm / Sat Appointment Only

  • Rural Loans:

    USDA Loans for moderate income Families

    0% down payment - 100% financing

  • Foreign National Program:

    Foreign National Program without:

    Residency, Social Security or Income in the US

  • Government Programs

    All Government Programs

    First-Time Buyer, Rural and Veterans Programs

  • Improve Credit Scores:

    Ask us about our program

    To improve your credit scores...

  • VA Mortgage Loans:

    Starting with only...

    580 Credit Scores!!!

  • 580 Credit Scores?

    Don't worry and submit your information

    We will help you.

  • Denied over excess debt?


    Contact us to analyze your options.

  • 580 Credit Scores?

    Don't worry and submit your information

    We will help you.

  • Jumbo Loans:

    Upto 90% financing for 

    Purchases of up to $830,000.

  • Rural Loans:

    USDA Loans for moderate income Families

    0% down payment - 100% financing

  • Foreign National Program:

    Foreign National Program without:

    Residency, Social Security or Income in the US

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

*For detailed Loan Estimate Rates Terms and Conditions advertised here please navigate this page from a desktop version. Thanks.

CONSTRUCTION Mortgage Rates

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
See Projected Payments below for your Estimated Total Monthly Payment

$5,110.33
to
$5,229.22

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
Amount can increase over time

+

570

+

570

Estimated Total
Monthly Payment

$5,680

$5,799

Estimated Taxes, Insurance
& Assessments

Amount can increase over time

$570
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

$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.

Closing Cost 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

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:

  • Rosa Iraheta • March 28, 2018

    Joan has help many of my clients to get their loans, he is very professionals and helpful, and always available for any questions that me or my clients had during the loan process. One of my client was in DACA program and Joan help him to get his loan. I will recommend Joan and his team . Thanks you

  • Gerardo & Brenda Olivares • May 07, 2014

    Joan,

    Thank you SO much for all of your help! You were very patient with us and made sure we understood every step of the way. We never thought we would be able to find our perfect home this soon! We are still in shock how fast you’ve worked and how you were looking out for OUR best interests and not the other way around.

    Thank you for caring in what you do, it really makes a difference when you’re working with someone that really cares and enjoys what they do. Thanks again! We will definitely make sure to send anyone looking into a home your way!

    Gerardo & Brenda Olivares

  • Denita Hawkins • Jule 19, 2017

    Thank you Joan! You TRANSFORMED a Nightmare into a DREAM!

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