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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: | $3,750,000 |
| LOAN TERM: | 30 years |
| PRODUCT: | Fixed Rate |
Loan Terms |
Can this amount increase after closing? |
|
Loan Amount |
$3,000,000 |
NO |
Interest Rate |
5.750% |
NO |
Monthly Principal & Interest |
$17,507.19 |
NO |
Does the loan have these features? |
||
Prepayment Penalty |
NO
|
|
Balloon Payment |
NO |
Projected Payments |
|||||||||||||
Payment Calculation |
Years 1-30 |
Years |
|||||||||||
Payment Calculation |
$17,507.19 |
$__ |
|||||||||||
Mortgage Insurance |
+ __ |
+ __ |
|||||||||||
Estimate Escrow |
+ 6,795 |
+ __ |
|||||||||||
Estimated Total |
$24,302.19 |
$__ |
|||||||||||
Estimated Taxes, Insurance |
|
||||||||||||
Costs at Closing |
||
Estimated Closing Costs |
$97,983 |
Includes $61,110 in Loan Costs + $36,873 in Other Costs – $0 in Lender Credits. See page 2 for details. |
Estimated Cash to Close |
$810,843 |
Includes Closing Costs. See Calculating Cash to Close on page 2 for details. |
Projected Payments |
||
A. Origination Charges |
$36,025 |
|
1.198 % of Loan Amount (Points) |
$35,940 |
|
Document Review Fee |
$85 |
|
Other Costs |
||
E. Taxes and Other Government Fees |
$125 |
|
Recording Fees and Other Taxes |
$125 |
|
Transfer Taxes |
||
F. Prepaids |
$16,013 |
|
Homeowner’s Insurance Premium ( 12 months) |
$15,540 |
|
Mortgage Insurance Premium ( months) |
||
Prepaid Interest ( $473 / day for 1 days @ 5.750%) |
$473 |
|
PropertyTaxes ( months) |
||
B. Services You Cannot Shop For |
$3,438 |
|
Appraisal Fee |
$2,500 |
|
Contract Processing Fee |
$500 |
|
Credit Report |
$44 |
|
Document Preparation Fee |
$300 |
|
|
Flood Certification |
$15 |
|
Tax Service Fee |
$79 |
|
G. Initial Escrow Payment at Closing |
$20,385 |
|
Homeowner’s Insurance $1,295 per month for 3 mo. |
$3,885 |
|
Mortgage Insurance per month for 0 mo. |
||
Property Taxes $1,200 per month for 3 mo. |
$16,500 |
|
H. Other |
$350 |
|
HOA Transfer Fees Title - Owner's Title Insurance |
$250 $100 |
|
I. TOTAL OTHER COSTS(E+F+G+H) |
$36,873 |
|
C. Services You Can Shop For |
$21,647 |
|
Survey Fee |
$2,000 |
|
|
Title - Lender's Title Insurance |
$19,231 |
|
Title - Settlement/Escrow Fee |
$350 |
|
Title - Tax Certificate Fee |
$66 |
|
J. TOTAL CLOSING COSTS |
$97,983 |
|
D + I |
$97,983 |
|
Lender Credits |
||
Calculating Cash to Close |
||
Total Closing Costs (J) |
$97,983 |
|
Closing Costs Financed (Paid from your Loan Amount) |
$0.00 |
|
Down Payment/Funds from Borrower |
$750,000 |
|
Deposit |
-$37,500 |
|
Funds for Borrower |
$0 |
|
Seller Credits |
$0.00 |
|
Adjustments and Other Credits |
$0.00 |
|
Estimated Cash to Close |
$810,483 |
|
D. TOTAL LOAN COSTS (A + B + C) |
$61,110 |
|
Thank you so much Joan for helping me get approved and close on my beautiful house after being denied by AMCAP and CORNERSTONE over silly stuff. I signed a contract with Stormi Harris from NEWMARK homes and she pretty much requested me to get approved with their preferred lenders. First, I went to AMCAP and later I was sent to CORNERSTONE. Both first approved me but after waiting and a second review or something like that denied me for not having 2-year employment history with same employer and for a couple of silly old issues on credit. At that point, I had given NEWMARK homes over $13,000 which sometimes as per all communications I felt builder I was not going to get back if I didn’t get approved. Then I after searching on google for local lenders I was lucky enough to find Clear Lending and after sending an approval request I got a call from Broker Joan Gallardo. I advised him about the urgency and after I sent him my documents requested he gave me peace of mind by telling me I had 90% chance of being able to close. Joan was so clear and precise with what to expect I felt I was on the right place. After few conditions we had to clear I got the good news I was Clear-To-Close. I am so thankful I want everyone to know this guy rocks and if you are buying a brand new house maybe you want to avoid builder lenders if you don’t have everything perfect. Loan Officers will tell you everything is ok but as I lived it I can see they had no idea what underwriting may come back with after waiting and waiting for an approval. Soo scary!!!! Thanks Clear Lending for saving me from a huge loss and helping realize my dreams. I will refer you all my friends or whoever ask me if I know a good lender!!!
I recommend Clear Lending all day long! They are very knowledgeable and I had a very smooth process from application, to home search to the closing of my home. Patricia is so sweet and patient and Joan is straight to the point not wasting time. They both answered me so fast. Thank you guys.
I would like to thank the entire team of Clear Lending for making possible my loan after so many attempts. I read the google reviews and I was pretty impressed and so I decided to give a shot. I am so glad I trusted them the loan approval and my home search. This is a crazy market but with patience I was able to accomplish what I have been waiting for so long. I am a veteran and my scores are not the best. Nonetheless Joan, Patti and Jorge made this possible. Thanks again guys I will always be in debt to you all.
