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CONVENTIONAL Mortgage Rates

SALE PRICE: $350,000
LOAN TERM: 30 years
PRODUCT : Fixed Rate

Loan Terms

Can this amount increase after closing?

Loan Amount

$280,000

NO

Interest Rate

3.990%

NO

Monthly Principal & Interest
See Projected Payments below for your Estimated Total Monthly Payment

$1,335.15

NO

Does the loan have these features?

Prepayment Penalty

NO

Balloon Payment

NO

Projected Payments

Payment Calculation

Years 1-30

Years

Payment Calculation

$1,335.15

$__

Mortgage Insurance

+

__

+

__

Estimate Escrow
Amount can increase over time

+

570

+

__

Estimated Total
Monthly Payment

$1,905

$__

Estimated Taxes, Insurance
& Assessments

Amount can increase over time

$570
month

This estimate includes

In escrow?

Property Taxes

YES

Homeowner’s Insurance

YES

Other:

See Section G on page 2 for escrowed property costs. You must pay for other property costs separately.

Costs at Closing

Estimated Closing Costs

$11,198

Includes $8,017 in Loan Costs + $3,181 in Other Costs – $0 in Lender Credits. See page 2 for details.

Estimated Cash to Close

$75,926

Includes Closing Costs. See Calculating Cash to Close on page 2 for details.

Closing Cost Details

Projected Payments

A. Origination Charges

$3,760

0.5 % of Loan Amount (Points)

$1,400

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

$1,171

Homeowner’s Insurance Premium ( 12 months)

$1,140

Mortgage Insurance Premium ( months)


Prepaid Interest ( $30.61 per day for 15 days @ 3.990%)

$31

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)

$3,181

C. Services You Can Shop For

$2,863

Survey Fee

$406

Title - Lender's Title Insurance

$2,041

Title - Settlement/Escrow Fee

$350

Title - Tax Certificate Fee

$66









J. TOTAL CLOSING COSTS

$11,198

D + I

$11,198

Lender Credits


Calculating Cash to Close

Total Closing Costs (J)

$11,198

Closing Costs Financed (Paid from your Loan Amount)

$0.00

Down Payment/Funds from Borrower

$70,000

Deposit

-$3,500

Funds for Borrower

$0

Seller Credits

-$1,772

Adjustments and Other Credits

$0.00

Estimated Cash to Close

$75,926

D. TOTAL LOAN COSTS (A + B + C)

$8,017

Customers Reviews:

  • Javier Rodriguez • November 05, 2015

    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!!

  • Aura Figueroa • October 08, 2017

    We are very happy with the service provided by Joan, Patricia and Elena. They were patient with us and explained all the process step by step. I highly recommend Clear Lending, they answered all our questions, and never rushed us to do anything. Great service!

  • Ashley Magallan • August 21, 2018

    I owe it all to Joan for making our dreams come true. I never thought I would own a home, but Joan made it happen. He was there for me at all hours of the day with questions and concerns I had. Everyday he would communicate with me, on how the process was going. Joan is on top of everything and SUPER fast. If any one is the need of buying a home, I would totally recommend him!

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