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Residency, Social Security or Income in the US
All Government Programs
First-Time Buyer, Rural and Veterans Programs
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580 Credit Scores!!!
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Contact us to analyze your options.
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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: | $295,000 |
| LOAN TERM: | 30 years |
| PRODUCT: | Fixed Rate |
Loan Terms |
Can this amount increase after closing? |
|
Loan Amount |
$289,656 |
NO |
Interest Rate |
4.99% |
NO |
Monthly Principal & Interest |
$1,553.17 |
NO |
Does the loan have these features? |
||
Prepayment Penalty |
NO
|
|
Balloon Payment |
NO |
Projected Payments |
|||||||||||||
Payment Calculation |
Years 1-30 |
Years |
|||||||||||
Payment Calculation |
$1,553.17 |
$ |
|||||||||||
Mortgage Insurance |
+ 202.00 |
+ |
|||||||||||
Estimate Escrow |
+ 520.00 |
+ |
|||||||||||
Estimated Total |
$2,275.17 |
$ |
|||||||||||
Estimated Taxes, Insurance |
|
||||||||||||
Costs at Closing |
||
Estimated Closing Costs |
$15,855 |
Includes $13,303 in Loan Costs + $3,807 in Other Costs – $0.00 in Lender Credits. See page 2 for details. |
Estimated Cash to Close |
$8,158 |
Includes Closing Costs. See Calculating Cash to Close on page 2 for details. |
Projected Payments |
||
A. Origination Charges |
$4,385 |
|
1.960 % Loan Origination (Points) |
$4,209 |
|
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 |
$1,872 |
|
Homeowner’s Insurance Premium ( 12 months) |
$1832 |
|
Mortgage Insurance Premium ( months) |
||
Prepaid Interest ($40.15 / day for 1 days @ 4.99 %) |
$40.15 |
|
PropertyTaxes ( months) |
||
B. Services You Cannot Shop For |
$6,276 |
|
Appraisal Fee |
$670 |
|
Credit Report Fee |
$50 |
|
Contract Processing Fee |
$500 |
|
Flood Certification |
$6 |
|
Tax Service Fee |
$69 |
|
Up-Front Mortgage Insurance Premium |
$4,981 |
|
G. Initial Escrow Payment at Closing |
$1,560 |
|
Homeowner’s Insurance $152.67 per month for 3 mo. |
$458 |
|
Mortgage Insurance per month for 0 mo. |
||
Property Taxes $367.26 per month for 3 mo. |
$1,102 |
|
H. Other |
$250 |
|
HOA Transfer Fees |
$250 |
|
I. TOTAL OTHER COSTS(E+F+G+H) |
$3,807 |
|
C. Services You Can Shop For |
$2,642 |
|
Survey Fee |
$450 |
|
Title - Lender's Title Insurance |
$1676 |
|
Title - Settlement/Escrow Fee |
$450 |
|
Title - Tax Certificate Fee |
$66 |
|
J. TOTAL CLOSING COSTS |
$15,854 |
|
D + I |
$18,854 |
|
Lender Credits |
||
Calculating Cash to Close |
||
Total Closing Costs (J) |
$15,854 |
|
Closing Costs Financed (Paid from your Loan Amount) |
-$4,981 |
|
Down Payment/Funds from Borrower |
$10,325 |
|
Deposit (1% of Purchase Contract) |
-$2,950 |
|
Funds for Borrower |
$0.00 |
|
Seller Credits |
-$10,000 |
|
Adjustments and Other Credits |
$0.00 |
|
Estimated Cash to Close |
$8,158 |
|
D. TOTAL LOAN COSTS (A + B + C) |
$13,303 |
|
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!!
Working with Joan has been amazing. I really appreciate how quickly he responds to any of my questions, he is friendly, work oriented and professional. I would highly recommend him. You won't be disappointed!
Thank you Mr. Joan for the excellent job getting us approved. My wife and I are very pleased with Clear Lending and the staff. From application to closing it has been a smooth process. I am happy I decided to apply after reading all the good reviews. I will recommend your company to anyone seeking a hard working loan officer and real estate agent.
