SALES PRICE: | $464,900 |
LOAN TERM: | 30 years |
PRODUCT: | Fixed Rate |
Loan Terms |
Can this amount increase after closing? |
|
Loan Amount |
$475,592 |
NO |
Interest Rate |
5.750% |
NO |
Monthly Principal & Interest |
$2,775.43 |
NO |
Does the loan have these features? |
||
Prepayment Penalty |
NO
|
|
Balloon Payment |
NO |
Projected Payments |
|||||||||||||
Payment Calculation |
Years 1-30 |
||||||||||||
Payment Calculation |
$2,775.43 |
$ |
|||||||||||
Mortgage Insurance |
+ __ |
+ __ |
|||||||||||
Estimate Escrow |
+ $832.00 |
+ __ |
|||||||||||
Estimated Total |
$3,607.43 |
$ |
|||||||||||
Estimated Taxes, Insurance |
|
Costs at Closing |
||
Estimated Closing Costs |
$28,846 |
Includes $23,794 in Loan Costs + $5,052 in Other Costs – $0.00 in Lender Credits. See page 2 for details. |
Estimated Cash to Close |
$7,504 |
Includes Closing Costs. See Calculating Cash to Close on page 2 for details. |
Projected Payments |
||
A. Origination Charges |
$7,834.97 |
|
1.1186 % of Loan Amount (Discount Points) |
$5,319.97 |
|
Loan Origination |
$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 |
$2,256 |
|
Homeowner’s Insurance Premium ( 12 months) |
$2,185 |
|
Mortgage Insurance Premium ( months) |
||
Prepaid Interest ($75.96 / day for 1 days @ 5.750%) |
$75.96 |
|
PropertyTaxes ( months) |
B. Services You Cannot Shop For |
$11,994 |
|
Appraisal Fee |
$670 |
|
Contract Processing Fee |
$500 |
|
Credit Report |
$56 |
|
Flood Certification Fee |
$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 3 mo. |
$1,950 |
|
H. Other |
$175 |
|
HOA Transfer Fees |
$175 |
|
I. TOTAL OTHER COSTS(E+F+G+H) |
$5,052 |
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 |
$28,846.97 |
|
D + I |
$28,846.97 |
|
Lender Credits |
Calculating Cash to Close |
||
Total Closing Costs (J) |
$28,846 |
|
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 |
$7,504 |
D. TOTAL LOAN COSTS (A + B + C) |
$23,794.97 |
I am so so excited, I have closed on my home and it was all made possible with the help of Joan and his team (Patricia and Elena) at Clear Lending Home Mortgage. When I first started the process of getting approval for my home, I was nervous and scared of the unknown of being a first time homebuyer and with the Interest Rates steadily increasing would I be able to get a good rate. Well after speaking to Joan for the first time via phone he assured me he would do his best to make it happen and he quickly put my mind at ease. Not only did I close in a little over 30 days, he also managed to get me an Interest Rate of 3.671% . From beginning to the end of the process, the staff at Clear Lending was professional, quick and took great care of making sure that I was informed every step of they way. A special "Thank You" to Joan.. for your hard work, honesty, and dedication in being a dream maker and making my dream of becoming a homeowner true!! I would gladly recommend Clear Lending to anyone looking to purchase a home.
Hola
Joan was amazing! He explained everything in detail so that we knew exactly where our money was going at all times and was ALWAYS available for answering questions. We will definitely be using his services again!