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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: | $1,200,000 |
| LOAN TERM: | 30 years |
| PRODUCT: | Fixed Rate |
Loan Terms |
Can this amount increase after closing? |
|
Loan Amount |
$900,000 |
NO |
Interest Rate |
6.500% |
NO |
Monthly Principal & Interest |
$5,688.61 |
NO |
Does the loan have these features? |
||
Prepayment Penalty |
NO
|
|
Balloon Payment |
NO |
Projected Payments |
|||||||||||||
Payment Calculation |
Years 1-30 |
Years |
|||||||||||
Payment Calculation |
$5,688.61 |
$__ |
|||||||||||
Mortgage Insurance |
+ __ |
+ __ |
|||||||||||
Estimate Escrow |
+ 1,470 |
+ __ |
|||||||||||
Estimated Total |
$7,158.61 |
$__ |
|||||||||||
Estimated Taxes, Insurance |
|
||||||||||||
Costs at Closing |
||
Estimated Closing Costs |
$25,506 |
Includes $17,951 in Loan Costs + $7,555 in Other Costs – $0 in Lender Credits. See page 2 for details. |
Estimated Cash to Close |
$313,506 |
Includes Closing Costs. See Calculating Cash to Close on page 2 for details. |
Projected Payments |
||
A. Origination Charges |
$11,360 |
|
1 % of Loan Amount (Points) |
$9,000 |
|
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 |
$3,400 |
|
Homeowner’s Insurance Premium ( 12 months) |
$3,240 |
|
Mortgage Insurance Premium ( months) |
||
Prepaid Interest ( $160.27 / day for 1 days @ 6.500%) |
$160.27 |
|
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 |
$3,855 |
|
Homeowner’s Insurance $270 per month for 3 mo. |
$255 |
|
Mortgage Insurance per month for 0 mo. |
||
Property Taxes $1,200 per month for 3 mo. |
$3,600 |
|
H. Other |
$175 |
|
HOA Transfer Fees |
$175 |
|
I. TOTAL OTHER COSTS(E+F+G+H) |
$7,555 |
|
C. Services You Can Shop For |
$5,197 |
|
Survey Fee |
$406 |
|
|
Title - Lender's Title Insurance |
$4,375 |
|
Title - Settlement/Escrow Fee |
$350 |
|
Title - Tax Certificate Fee |
$66 |
|
J. TOTAL CLOSING COSTS |
$25,506 |
|
D + I |
$25,506 |
|
Lender Credits |
||
Calculating Cash to Close |
||
Total Closing Costs (J) |
$25,506 |
|
Closing Costs Financed (Paid from your Loan Amount) |
$0.00 |
|
Down Payment/Funds from Borrower |
$300,00 |
|
Deposit |
-$12,000 |
|
Funds for Borrower |
$0 |
|
Seller Credits |
$0.00 |
|
Adjustments and Other Credits |
$0.00 |
|
Estimated Cash to Close |
$313,506 |
|
D. TOTAL LOAN COSTS (A + B + C) |
$17,951 |
|
We finally get the opportunity to write down our review. First, we would like to thank Patricia and Joan for all their efforts. It was a bit overwhelming as we were from out of state, from Massachusetts to be exact. From day 1 to closing date. Patricia & Joan worked with us every step of the way. There was NEVER a day off, and NOT one question unanswered. We got FHA loan approved. And today, we are happy to say, we are home owner’s! Thank you so much! Joan & Patricia.
After being denied by two other loan officers we decided to contact Joan. Not only was Joan able to get us a quick approval but we closed with less than the amount needed. He is dedicated and consistent. Thank you for making our dreams come true. We will forever be grateful!
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.
