SALES PRICE: | $600,000 |
LOAN TERM: | 15 years |
PRODUCT: | Fixed Rate |
Loan Terms |
Can this amount increase after closing? |
|
Loan Amount |
$582,000 |
NO |
Interest Rate |
5.750% |
NO |
Monthly Principal & Interest |
$4,832.99 |
NO |
Does the loan have these features? |
||
Prepayment Penalty |
NO
|
|
Balloon Payment |
NO |
Projected Payments |
|||||||||||||
Payment Calculation |
Years 1-15 |
Years |
|||||||||||
Payment Calculation |
$4,832.99 |
$ __ |
|||||||||||
Mortgage Insurance |
+ $140.65 |
+ __ |
|||||||||||
Estimate Escrow |
+ $933 |
+ __ |
|||||||||||
Estimated Total |
$5,906.64 |
$__ |
|||||||||||
Estimated Taxes, Insurance |
|
Costs at Closing |
||
Estimated Closing Costs |
$17,707 |
Includes $11,759 in Loan Costs + $5,948 in Other Costs – $0 in Lender Credits. See page 2 for details. |
Estimated Cash to Close |
$19,707 |
Includes Closing Costs. See Calculating Cash to Close on page 2 for details. |
Projected Payments |
||
A. Origination Charges |
$6,655.57 |
|
1.1134 % of Loan Amount (Points) |
$6,480.57 |
|
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 |
$2,774 |
|
Homeowner’s Insurance Premium ( 12 months) |
$2,700 |
|
Mortgage Insurance Premium ( months) |
||
Prepaid Interest ( $73.75 / day for 1 days @ 4.625%) |
$74 |
|
PropertyTaxes ( months) |
B. Services You Cannot Shop For |
$1,238 |
|
Appraisal Fee |
$600 |
|
Contract Processing Fee |
$500 |
|
Credit Report |
$56 |
|
Flood Certification |
$7 |
|
Tax Service Fee |
$75 |
|
G. Initial Escrow Payment at Closing |
$2,799 |
|
Homeowner’s Insurance $225 per month for 3 mo. |
$675 |
|
Mortgage Insurance per month for 0 mo. |
||
Property Taxes $708 per month for 3 mo. |
$2,124 |
|
H. Other |
$250 |
|
HOA Transfer Fees |
250 |
|
I. TOTAL OTHER COSTS(E+F+G+H) |
$5,948 |
C. Services You Can Shop For |
$3,866 |
|
Survey Fee |
$450 |
|
Title - Abstract/Title Search Fee |
$100 |
|
Title - Lender's Title Insurance |
$2,755 |
|
Title - Settlement/Escrow Fee |
$495 |
|
Title - Tax Certificate Fee |
$66 |
|
J. TOTAL CLOSING COSTS |
$17,707.57 |
|
D + I |
$17,707.57 |
|
Lender Credits |
Calculating Cash to Close |
||
Total Closing Costs (J) |
$17,707.57 |
|
Closing Costs Financed (Paid from your Loan Amount) |
$0.00 |
|
Down Payment/Funds from Borrower |
$18,000 |
|
Deposit |
-$6,000 |
|
Funds for Borrower |
$0.00 |
|
Seller Credits |
-$10,000 |
|
Adjustments and Other Credits |
$0.00 |
|
Estimated Cash to Close |
$19,707.57 |
D. TOTAL LOAN COSTS (A + B + C) |
$11,759.57 |
Gracias Joan, Patricia y Jorge por toda la ayuda que nos han brindado desde el inicio hasta el final. Toda nuestra familia esta agradecida por su apoyo en todo momento. Estamos muy felices con nuestra casita y crean cuando les digo les referiremos toda nuestra familia y amigos. Saludos.
Joan and his team provided me with a flawless and stress-free service, as a first time home buyer. From the first interaction, until closing and thereafter, it has been an absolute pleasure to partner with Clear Lending. Their knowledge and transparency is incredible, and this industry needs more Joan's (and his team) in this world!
Thanks Joan, Patricia and Jorge for helping us to buy our first home. You all are kind, knowledgeable and very professional. Even thgough we were referred to you guys and so we were told you were amazing, my husband and I are happy to confirm you are everything our friends already told us about working with Clear Lending. We will use you again for an investment house we have soon in mind. Thanks again for your hard work.