Foreign National Program without:
Residency, Social Security or Income in the US
USDA Loans for moderate income Families
0% down payment - 100% financing
All Government Loan Programs
FHA, USDA and VA
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Upto 90% financing for
Purchases of up to $830,000.
| SALES PRICE: | $720,000 |
| CONSTRUCTION LOAN: | 15 years |
| PRODUCT: | Fixed Rate |
Loan Terms |
Can this amount increase after closing? |
|
Loan Amount |
$647,200 |
NO |
Interest Rate |
5.750% + 0.75% |
NO |
Monthly Principal & Interest |
$3,505.67 to $5,374.41 |
YES |
Does the loan have these features? |
||
Prepayment Penalty |
NO
|
|
Balloon Payment |
NO |
Projected Payments |
|||||||||||||
Payment Calculation |
Years 1 |
Years 2 - 15 |
|||||||||||
Payment Calculation |
$3,505.67 $ 2,157.33 $1,599.06 |
$5,374.41 |
|||||||||||
Mortgage Insurance |
+ $ TBD |
+ $ TBD |
|||||||||||
Estimate Escrow |
+ $ 570 |
+ $ 570 |
|||||||||||
Estimated Total |
$4,075 |
$5,944 |
|||||||||||
Estimated Taxes, Insurance |
|
||||||||||||
Costs at Closing |
||
Estimated Closing Costs |
$16,269 |
Includes $13,088 in Loan Costs + $3,252 in Other Costs – $0 in Lender Credits. See page 2 for details. |
Estimated Cash to Close |
$89,140 |
Includes Closing Costs. See Calculating Cash to Close on page 2 for details. |
Projected Payments |
||
A. Origination Charges |
$8,832 |
|
1.0 % of Loan Amount (Points) |
$6,472 |
|
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 |
$1,242 |
|
Homeowner’s Insurance Premium ( 12 months) |
$1,140 |
|
Mortgage Insurance Premium ( months) |
||
Prepaid Interest ($101.96 / day for 1 days @ 5.750%) |
$102 |
|
PropertyTaxes ( months) |
||
B. Services You Cannot Shop For |
$1,394 |
|
Appraisal Fee |
$475 |
|
Contract Processing Fee |
$500 |
|
Credit Report |
$44 |
|
Document Preparation Fee |
$300 |
|
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) |
$3,252 |
|
C. Services You Can Shop For |
$2,862 |
|
Survey Fee |
$406 |
|
Title - Lender's Title Insurance |
$2,040 |
|
Title - Settlement/Escrow Fee |
$350 |
|
Title - Tax Certificate Fee |
$66 |
|
J. TOTAL CLOSING COSTS |
$16,340 |
|
D + I |
$16,340 |
|
Lender Credits |
||
Calculating Cash to Close |
||
Total Closing Costs (J) |
$16,340 |
|
Closing Costs Financed (Paid from your Loan Amount) |
$0.00 |
|
Down Payment/Funds from Borrower |
$72,800 |
|
Deposit |
$0.00 |
|
Funds for Borrower |
$0.00 |
|
Seller Credits |
$0.00 |
|
Adjustments and Other Credits |
$0.00 |
|
Estimated Cash to Close |
$89,140 |
|
D. TOTAL LOAN COSTS (A + B + C) |
$13,088 |
|
I wanted to buy a second home, without having to sell my primary home in Florida. I had originally contracted another mortgage broker to help me secure a loan. I spent so much valuable time with this broker only for her to tell me that I could not obtain any financing unless I sold my house in Florida. I was so frustrated with the original broker that I decided to look online for another mortgage company. I found Clear Lending. OMG talk about professionalism, knowledgeable, and the dedication Joan from Clear Lending, and his staff that in 3 months I had a new home in Texas, without selling my home in Florida. The best part of this that under the Clear Lending umbrella I was able to get my mortgage and Real Estate agent under one roof.
Thanks Joan and everyone in your team for making my loan possible. I know it has been a difficult and complicated process and I cant thank you enough for being there for me and my family. We will always be thankful for making the impossible possible. I will refere you everyone is in need of a residential mortgage loan. Thanks again.
Joan I really appreciate all the patience you had with us. You gave us hope after we had a bad experience with our bank making sure our loan was first approved before looking for a house. This really brought our hopes up. You made sure houses we went to see met our expectations. Then no matter how late at night or early in the morning you would answer all our calls. Even when we signed the contract on the house you would still keep in touch with us and made sure everything was good. I will be referring you everyone I know and our next home purchase is going to be with you. Thank you so much Joan.
