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Upto 90% financing for
Purchases of up to $830,000.
USDA Loans for moderate income Families
0% down payment - 100% financing
| SALES PRICE: | $600,000 |
| LOAN TERM: | 30 years |
| PRODUCT: | Fixed Rate |
Loan Terms |
Can this amount increase after closing? |
|
Loan Amount |
$582,000 |
NO |
Interest Rate |
5.625% |
NO |
Monthly Principal & Interest |
$3,350.82 |
NO |
Does the loan have these features? |
||
Prepayment Penalty |
NO
|
|
Balloon Payment |
NO |
Projected Payments |
|||||||||||||
Payment Calculation |
Years 1-30 |
Years |
|||||||||||
Payment Calculation |
$3,350.82 |
$__ |
|||||||||||
Mortgage Insurance |
+ $189.15 |
+ __ |
|||||||||||
Estimate Escrow |
+ $1,623 |
+ __ |
|||||||||||
Estimated Total |
$5,162.97 |
$__ |
|||||||||||
Estimated Taxes, Insurance |
|
||||||||||||
Costs at Closing |
||
Estimated Closing Costs |
$22,919 |
Includes $12,656 in Loan Costs + $10,263 in Other Costs – $0 in Lender Credits. See page 2 for details. |
Estimated Cash to Close |
$24,919 |
Includes Closing Costs. See Calculating Cash to Close on page 2 for details. |
Projected Payments |
||
A. Origination Charges |
$5,995 |
|
1.0333% of Loan Amount (Discount Points) |
$5,820 |
|
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 |
$4,889 |
|
Homeowner’s Insurance Premium ( 12 months) |
$4,800 |
|
Mortgage Insurance Premium ( months) |
||
Prepaid Interest ( $89.65 / day for 1 days @ 5.625%) |
$89.95 |
|
PropertyTaxes ( months) |
||
B. Services You Cannot Shop For |
$1,295 |
|
Appraisal Fee |
$600 |
|
Contract Processing Fee |
$500 |
|
Credit Report |
$95 |
|
|
Flood Certification |
$15 |
|
|
Tax Service Fee |
$85 |
|
G. Initial Escrow Payment at Closing |
$4,899 |
|
Homeowner’s Insurance $400 per month for 3 mo. |
$1,200 |
|
Mortgage Insurance per month for 0 mo. |
||
Property Taxes $1,233 per month for 3 mo. |
$3,699 |
|
H. Other |
$350 |
|
HOA Transfer Fees |
$350 |
|
I. TOTAL OTHER COSTS(E+F+G+H) |
$10,263 |
|
C. Services You Can Shop For |
$5,366 |
|
Survey Fee |
$575 |
|
|
Title - Abstract/Title Search Fee |
$100 |
|
Title - Lender's Title Insurance |
$4,056 |
|
Title - Settlement/Escrow Fee |
$550 |
|
Title - Tax Certificate Fee |
$85 |
|
J. TOTAL CLOSING COSTS |
$22,919 |
|
D + I |
$22,919 |
|
Lender Credits |
||
Calculating Cash to Close |
||
Total Closing Costs (J) |
$22,919 |
|
Closing Costs Financed (Paid from your Loan Amount) |
$0.00 |
|
Down Payment/Funds from Borrower |
$18,000 |
|
Deposit |
-$6,000 |
|
Funds for Borrower |
$0 |
|
Seller Credits |
-$10,000 |
|
Adjustments and Other Credits |
$0.00 |
|
Estimated Cash to Close |
$24,919 |
|
D. TOTAL LOAN COSTS (A + B + C) |
$12,656 |
|
After some problems with a bank, Clear Lending (Joan) helped me to successfully complete my home purchase process in 15 days. 100% recommended
BEST LOAN OFFICER!!! I had a terrible experience with Nations Reliable Lending. After wasting time, I met Joan Gallardo. He cleaned my credit explaining WITH details what had to be done. He worked day, nights, even on SUNDAYS on getting me approved. Who does that? Just Joan Gallardo!!! I got a 100% financing thanks to Joan. Thanks to Joan my family and I have a place to call a HOME. I recommend everyone to contact JOAN GALLARDO! You will NOT regret it. Thank you Joan!!
We visited Clear Lending after we got an appointment today and we submitted the docs they had wanted. Our docs were reviewed and we were advised that we could not be approved due to our present income status. The Clear Lending staff told us what we need to do afterward and we were fully satisfied with their convincing advice. And we are convinced to go with Clear Lending in the loan process in the later days.
