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Interest Rates - CLICK HERE - Rates are subject to change without notice

*For detailed Loan Estimate Rates Terms and Conditions advertised here please navigate this page from a desktop version. Thanks.

VA Mortgage Rates

SALES PRICE: $464,900
LOAN TERM: 15 years
PRODUCT: Fixed Rate

Loan Terms

Can this amount increase after closing?

Loan Amount

$475,592

NO

Interest Rate

5.625%

NO

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

$3,917.60

NO

Does the loan have these features?

Prepayment Penalty

NO

Balloon Payment

NO

Projected Payments

Payment Calculation

Years 1-15

Years

Payment Calculation

$3,917.60

$__

Mortgage Insurance

 +

__

 +

__

Estimate Escrow
Amount can increase over time

 +

832

 +

__

Estimated Total
Monthly Payment

$4,749.60

$__

Estimated Taxes, Insurance
& Assessments
Amount can increase over time

$832
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

$29,434

Includes $24,386 in Loan Costs + $5,048 in Other Costs – $0.00 in Lender Credits. See page 2 for details.

 
 

Estimated Cash to Close

$8,092

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

Closing Cost Details

Projected Payments

A. Origination Charges

$8,426.63

1.280 % of Loan Amount (Points)

$6,086.63

Loan Origination Fee

$2,340.00

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

$2,252

Homeowner’s Insurance Premium ( 12 months)

$2,185

Mortgage Insurance Premium ( months)

Prepaid Interest ($67.71 / day for 1 days @ 5.125%)

$67

PropertyTaxes ( months)

B. Services You Cannot Shop For

$11,994

Appraisal Fee

$670

Contract Processing Fee

$500

Credit Report

$56

Flood Certification

$6

Tax Service Fee

$69

VA Funding Fee

$10,693

G. Initial Escrow Payment at Closing

$2,496

Homeowner’s Insurance $182.09 / month for 3 mo.

$546

Mortgage Insurance per month for 0 mo.

Property Taxes $650 per month for 2 mo.

$1,950

H. Other

$175

HOA Transfer Fees

$175

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

$5,048

C. Services You Can Shop For

$3,966

Survey Fee

$450

Title - Abstract/Title Search Fee

$100

Title - Lender's Title Insurance

$2,855

Title - Settlement/Escrow Fee

$495

Title - Tax Certificate Fee

$66



J. TOTAL CLOSING COSTS

$29,434

D + I

$29,434

Lender Credits

Calculating Cash to Close

Total Closing Costs (J)

$29,434

Closing Costs Financed (Paid from your Loan Amount)

-$10,693

Down Payment/Funds from Borrower

$0.00

Deposit

-$4,649

Funds for Borrower

$0.00

Seller Credits

-$6,000

Adjustments and Other Credits

$0.00

Estimated Cash to Close

$8,092

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

$24,386.63

How to find and compare home mortgage loan interest rates...

 

The process of searching for the best interest rates in Houston is in many occasions a complicated full-time work.

Buying a house involves many complex decisions and besides finding the right house, it would be fair to say the most important is the mortgage loan interest rate. Making sure we will not be paying more interest than we would otherwise with a lower interest rate over a 15- or 30-year term is extremely important.

Consider the following hypothetical scenario which in no way is an offer or extension for credit at 2 different possible interest rates assuming $0 closing costs and no mortgage insurance. We offered $325,000 for the perfect house and seller has accepted. Therefore, the following numbers,

Purchase price: $325,000
Down Payment: $16,250 (5%)
Loan Amount: $308,750
Option 1 at 4.875% - Monthly payment: $1,633.93
Option 2 at 4.625% - Monthly payment: $1,587.41

If we were going to close the purchase of such house at the higher interest rate of 4.875% and a payment of $1,633.93, the opportunity cost of not closing at the lower rate of 4.625% would be $34,299.30. Why? Because if we were to choose higher interest rate and thus higher monthly payment if applied to lower rate on a 30-year mortgage, we would accelerate the term of our loan by 21 payments at $1,633.93 would equals the $34,299.30. And any other effort to pay more would equally accelerate faster the repayment of the note.

But finding the best interest rates in Houston not only depends on finding the cheapest bank but also finding the best partnership to complete the home purchase. Clear Lending offers the best interest rates in Houston by setting up Realtor-Loan Officer partnerships where better rates can be obtained than most competitors without the need to waste time searching for dozens of banks and lenders.

Simply apply now and we will start your home loan approval with all your options to compare.

 

Customers Reviews:

  • Glenda Alvarez • May 05, 2015

    Joan I really appreciate all the patience you had with us. You gave us hope after we had a bad experience with our bank making sure our loan was first approved before looking for a house. This really brought our hopes up. You made sure houses we went to see met our expectations. Then no matter how late at night or early in the morning you would answer all our calls. Even when we signed the contract on the house you would still keep in touch with us and made sure everything was good. I will be referring you everyone I know and our next home purchase is going to be with you. Thank you so much Joan.

  • Adrian Olivares • November 02, 2015

    Excellent Loan Officer!!! Joan Gallardo works fast and gives his best effort to his clients. A very polite man that always answers your questions. I Really Recommend him to anyone. God Bless You.

  • Christian Perez • October 03, 2020

    Joan was great, very transparent, and got me almost a percent lower with less money out of pocket than what my builder's lender was offering! Highly recommend

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