SALES PRICE: | $295,000 |
LOAN TERM: | 15 years |
PRODUCT: | Fixed Rate |
Loan Terms |
Can this amount increase after closing? |
|
Loan Amount |
$289,656 |
NO |
Interest Rate |
5.750% |
NO |
Monthly Principal & Interest |
$2,405.33 |
NO |
Does the loan have these features? |
||
Prepayment Penalty |
NO
|
|
Balloon Payment |
NO |
Projected Payments |
|||||||||||||
Payment Calculation |
Years 1-15 |
Years |
|||||||||||
Payment Calculation |
$2,405.33 |
$__ |
|||||||||||
Mortgage Insurance |
+ 202 |
+ __ |
|||||||||||
Estimate Escrow |
+ 520 |
+ __ |
|||||||||||
Estimated Total |
$3,127.33 |
$__ |
|||||||||||
Estimated Taxes, Insurance |
|
Costs at Closing |
||
Estimated Closing Costs |
$18,933 |
Includes $15,129 in Loan Costs + $3,804 in Other Costs – $0.00 in Lender Credits. See page 2 for details. |
Estimated Cash to Close |
$16,326 |
Includes Closing Costs. See Calculating Cash to Close on page 2 for details. |
Projected Payments |
||
A. Origination Charges |
$6,059 |
|
2.100 % of Loan Amount (Points) |
$5,884 |
|
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 |
$1,869 |
|
Homeowner’s Insurance Premium ( 12 months) |
$1,832 |
|
Mortgage Insurance Premium ( months) |
||
Prepaid Interest ($35.20/day for 1 days @ 4.375%) |
$37 |
|
PropertyTaxes ( months) |
B. Services You Cannot Shop For |
$6,283 |
|
Appraisal Fee |
$670 |
|
Credit Report |
$56 |
|
Contract Processing Fee |
$500 |
|
Flood Certification |
$6 |
|
Tax Service Fee |
$69 |
|
Up-Front Mortgage Insurance Premium |
$4,982 |
|
G. Initial Escrow Payment at Closing |
$1,560 |
|
Homeowner’s Insurance $152.67/month for 3 mo. |
$458 |
|
Mortgage Insurance per month for 0 mo. |
||
Property Taxes $367.26/month for 3 mo. |
$1,102 |
|
H. Other |
$250 |
|
HOA Transfer Fees |
$250 |
|
I. TOTAL OTHER COSTS(E+F+G+H) |
$3,804 |
C. Services You Can Shop For |
$2,787 |
|
Survey Fee |
$450 |
|
Title - Abstract/Title Search Fee |
$100 |
|
Title - Lender's Title Insurance |
$1,676 |
|
Title - Settlement/Escrow Fee |
$495 |
|
Title - Tax Certificate Fee |
$66 |
|
J. TOTAL CLOSING COSTS |
$18,933 |
|
D + I |
$18,933 |
|
Lender Credits |
Calculating Cash to Close |
||
Total Closing Costs (J) |
$18,933 |
|
Closing Costs Financed (Paid from your Loan Amount) |
-$4,982 |
|
Down Payment/Funds from Borrower |
$10,325 |
|
Deposit |
-$2,950 |
|
Funds for Borrower |
$0.00 |
|
Seller Credits |
-$5,000 |
|
Adjustments and Other Credits |
$0.00 |
|
Estimated Cash to Close |
$16,326 |
D. TOTAL LOAN COSTS (A + B + C) |
$15,129 |
Thank you so much Joan for helping me get approved and close on my beautiful house after being denied by AMCAP and CORNERSTONE over silly stuff. I signed a contract with Stormi Harris from NEWMARK homes and she pretty much requested me to get approved with their preferred lenders. First, I went to AMCAP and later I was sent to CORNERSTONE. Both first approved me but after waiting and a second review or something like that denied me for not having 2-year employment history with same employer and for a couple of silly old issues on credit. At that point, I had given NEWMARK homes over $13,000 which sometimes as per all communications I felt builder I was not going to get back if I didn’t get approved. Then I after searching on google for local lenders I was lucky enough to find Clear Lending and after sending an approval request I got a call from Broker Joan Gallardo. I advised him about the urgency and after I sent him my documents requested he gave me peace of mind by telling me I had 90% chance of being able to close. Joan was so clear and precise with what to expect I felt I was on the right place. After few conditions we had to clear I got the good news I was Clear-To-Close. I am so thankful I want everyone to know this guy rocks and if you are buying a brand new house maybe you want to avoid builder lenders if you don’t have everything perfect. Loan Officers will tell you everything is ok but as I lived it I can see they had no idea what underwriting may come back with after waiting and waiting for an approval. Soo scary!!!! Thanks Clear Lending for saving me from a huge loss and helping realize my dreams. I will refer you all my friends or whoever ask me if I know a good lender!!!
FROM GOOGLE: My experience with Joan and his team was absolutely WONDERFUL! They are all great at what they do! Joan is the best there is, no lie! He really knows the business & the entire process inside and out. He makes the entire process from beginning to close, easy for you! After being told by lender after lender that my husbands credit score was not high enough for a low rate, and being quoted these ridiculously high rates, we were exhausted with the whole thing and about ready to give up. But, then I ran across Clear Lending and Joan told us that was no problem and offered us the best rate that no other lender would even think of offering! From day one, he was available anytime I needed him, & he never made me feel like I was bothering him. He always had time and answered every question that I had. Joan is honest, to the point, & very helpful! I would definitely use him & his team again, and I highly recommend Clear Lending to anyone who wants to buy a home! They are truly the BEST!!!
Buenas noches Joan,
Espero que este mensaje lo encuentre bien. Le escribo para darle las gracias por su ayuda y apoyo durante el proceso del préstamo de nuestra casa, aprecio su servicio y interés ante la situación y mas que todo su eficiencia y profesionalismo para realizarlo.
De nuevo mil gracias por ser parte de este momento tan importante para nosotros . Le deseamos la mejor de la suerte a usted y a su empresa.
Esperamos seguir en contacto para un futuro.
Un cordial saludo,
Natalia y Juan