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 |
|
Clear Lending helped me to buy my first home and now I just bought my second home. I did not hesitate to contact them again. Joan & Patricia answered all the questions and followed up on my case for a couple of years until I was ready to buy my second home . Thank you for all your support. Merry Christmas.
Joan,
No tengo palabras para agradecerles todo lo que han hecho por nosotros, mi Esposa y yo estamos muy felices de que nos ayudaron a realizar nuestro sueño de comprar la casa que tanto esperamos. Este fue un gran trabajo de ustedes, cuando todo parecia muy complicado, siempre encontraron la solucion, siempre nos dieron mucho aliento para continuar, y nunca nos dejaron solos. Joan, gracias por conseguirnos locked rate de 3.875% cuando habiamos iniciado con 4.25%. Gracias por tomar nuestras llamadas y responder nuestras dudas a toda hora, siempre con la major actitud. Los recomendamos 100%. Gracias por hacer lo imposible posible, los voy a recomendar con todos mis amigos.
Un abrazo! Fausto
Great experience with this lender! Friendly and professional. They were always quick with responses to my questions and concerns. I would recommend them in a heartbeat. Everything went smoothly. Not only did they respond to all emails but constantly called me keeping me up to date. Thank you Joan.
