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FHA Mortgage Rates

SALE PRICE: $205,000
LOAN TERM: 15 years
PRODUCT : Fixed Rate

Loan Terms

Can this amount increase after closing?

Loan Amount

$201,286

NO

Interest Rate

3.375%

NO

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

$1,426.63

NO

Does the loan have these features?

Prepayment Penalty

NO

Balloon Payment

NO

Projected Payments

Payment Calculation

Years 1-15

Years

Payment Calculation

$1,426.63

$__

Mortgage Insurance

+

115

+

__

Estimate Escrow
Amount can increase over time

+

460

+

__

Estimated Total
Monthly Payment

$2,002

$__

Estimated Taxes, Insurance
& Assessments

Amount can increase over time

$460
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

$10,799

Includes $7,820 in Loan Costs + $2,979 in Other Costs – $0.00 in Lender Credits. See page 2 for details.

Estimated Cash to Close

$7,432

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

Closing Cost Details

Projected Payments

A. Origination Charges

$1,155

0.328 % of Loan Amount (Points)

$660

Contract Processing Fee

$495













Other Costs

E. Taxes and Other Government Fees

$125

Recording Fees and Other Taxes

$125

Transfer Taxes




F. Prepaids

$1,299

Homeowner’s Insurance Premium ( 12 months)

$1,020

Mortgage Insurance Premium ( months)


Prepaid Interest ( $18.61 per day for 1 days @ 3.25%)

$279

PropertyTaxes ( months)


B. Services You Cannot Shop For

$4,281

Appraisal Fee

$560

Credit Report

$44

Document Preparation Fee - TX

$50

Flood Certification

$6

Funding Fee - TX

$100

Tax Service Fee

$69

Up-Front Mortgage Insurance Premium

$3,462









G. Initial Escrow Payment at Closing

$1,380

Homeowner’s Insurance $85 per month for 3 mo.

$255

Mortgage Insurance per month for 0 mo.


Property Taxes $375 per month for 3 mo.

$1,125



H. Other

$175

HOA Transfer Fees

$175

I. TOTAL OTHER COSTS(E+F+G+H)

$2,979

C. Services You Can Shop For

$2,384

Survey Fee

$406

Title - Lender's Title Insurance

$1,562

Title - Settlement/Escrow Fee

$350

Title - Tax Certificate Fee

$66










J. TOTAL CLOSING COSTS

$10,799

D + I

$10,799

Lender Credits


Calculating Cash to Close

Total Closing Costs (J)

$10,799

Closing Costs Financed (Paid from your Loan Amount)

$0.00

Down Payment/Funds from Borrower

$0.00

Deposit

$2,050

Funds for Borrower

$0.00

Seller Credits

$0.00

Adjustments and Other Credits

$1,317

Estimated Cash to Close

$7,432

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

$7,820

Customers Reviews:

  • Beatriz Gonzalez • September 08, 2015

    Buenísimo Loan Officer!!!!!!! SUPER RECOMENDADO, gracias por hacer lo imposible posible; gracias por todo tu tiempo, apoyo y consejos. Excelente persona siempre tratando de ayudar y hacer más fácil el proceso. Siempre al pendiente y tratando de encontrar la mejor opción. La verdad nunca pensé que nos prestaran el dinero para comprar la casa y Joan lo consiguió!!!!!! Gracias por todas tus atenciones. Saludos Beatriz Gonzalez.


  • Rodolfo Garcia • July 25, 2018

    Joan and the rest of staff at Clear Lending did an amazing job. Taking the time to explain all the details and taking all the right steps on getting me into a home. I recommend anyone in the home buying market to contact him. He will take care of you.

  • Ricardo Cruz • October 23, 2015

    I would like to thank Joan for everything he did for us. He is the best in the business and is very knowledgeable. He made the home buying process very enjoyable and he was available at any time to answer any questions we had. He was easy to contact and easy to talk to. I will be referring everyone I know to Joan. Thank you.

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