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FHA Mortgage Rates

SALE PRICE: $205,000
LOAN TERM: 30 years
PRODUCT : Fixed Rate

Loan Terms

Can this amount increase after closing?

Loan Amount

$201,286

NO

Interest Rate

3.750%

NO

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

$932.19

NO

Does the loan have these features?

Prepayment Penalty

NO

Balloon Payment

NO

Projected Payments

Payment Calculation

Years 1-30

Years

Payment Calculation

$932.19

$

Mortgage Insurance

+

140

+


Estimate Escrow
Amount can increase over time

+

460

+


Estimated Total
Monthly Payment

$1,532

$

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

$10,813

Includes $7,468 in Loan Costs + $3,010 in Other Costs – $0.00 in Lender Credits. See page 2 for details.

Estimated Cash to Close

$7,111

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

Closing Cost Details

Projected Payments

A. Origination Charges

$803

0.153 % of Loan Amount (Points)

$308

Contract Processing Fee

$495













Other Costs

E. Taxes and Other Government Fees

$125

Recording Fees and Other Taxes

$125

Transfer Taxes




F. Prepaids

$1,330

Homeowner’s Insurance Premium ( 12 months)

$1020

Mortgage Insurance Premium ( months)


Prepaid Interest ( $20.68 per day for 1 days @ 3.750%)

$310

PropertyTaxes ( months)


B. Services You Cannot Shop For

$4,281

Appraisal Fee

$560

Credit Report Fee

$44

Document Preparation Fee - TX

$50

Flood Certification

$6

Funding Fee - TX

$100

Tax Service Fee

$69

Up-Front Mortgage Insurance Premium

$3462









G. Initial Escrow Payment at Closing

$1,380

Homeowner’s Insurance $85.00 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)

$3,010

C. Services You Can Shop For

$2,384

Survey Fee

$406

Title - Lender's Title Insurance

$1562

Title - Settlement/Escrow Fee

$350

Title - Tax Certificate Fee

$66









J. TOTAL CLOSING COSTS

$10,478

D + I

$10,478

Lender Credits

Calculating Cash to Close

Total Closing Costs (J)

$10,478

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

-$1,317

Adjustments and Other Credits

$0.00

Estimated Cash to Close

$7,045

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

$7,468

Customers Reviews:

  • Bobby & Dyann • September 09, 2017

    Joan is awesome! He helped us secure a home loan in a very short time. After being rejected, losing money and valuable time with another organization, Joan accomplished what I thought was impossible. I found Joan to be knowledgeable, professional and driven in his efforts to get us approved. He communicated to us throughout the process and was responsive to my questions and concerns. I would recommend anyone looking at purchasing a home to contact Joan and he will make it happen. He is great! Thanks Joan!!

  • Mary Jones • July 27, 2018

    Thanks Joan, Patricia and Samantha for your amazing help making the purchase of my dream house possible. I really recommend Clear Lending and its team. I remember searching for local lenders who would lend borrowers with low credit scores and I found them. I read some reviews and realized some had been in my same situation. I applied and after 67 days I closed the purchase of the cutest house! They even helped me negotiate with sellers to get them pay all closing costs. Joan I am so thankful I will refer you everyone that is in need to buy a house. I will never forget what you and your team have done for me and my family. Thanks, thanks and thanks again!!!!   

  • John & Cari • February 20, 2018

    Joan and his team were extremely helpful and really attentive to our needs while going through our loan process. They made sure the VA process went smoothly as well. I would recommend Clear Lending to all looking to buy a house.

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