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

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CONVENTIONAL Mortgage Rates

SALE PRICE: $225,000
LOAN TERM: 15 years
PRODUCT : Fixed Rate

Loan Terms

Can this amount increase after closing?

Loan Amount

$180,000

NO

Interest Rate

3.250%

NO

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

1,264.80

NO

Does the loan have these features?

Prepayment Penalty

NO

Balloon Payment

NO

Projected Payments

Payment Calculation

Years 1-15

Years

Payment Calculation

1,264.80

$ __

Mortgage Insurance

+

__

+

__

Estimate Escrow
Amount can increase over time

+

460

+

__

Estimated Total
Monthly Payment

$1,725

$__

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

$8,506

Includes $5,731 in Loan Costs + $2,775 in Other Costs – $0 in Lender Credits. See page 2 for details.

Estimated Cash to Close

$51,781

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

Closing Cost Details

Projected Payments

A. Origination Charges

$2,620

0 % of Loan Amount (Points)

$0

Lender Doc Prep Fee

$275

Loan Origination Fee

$1,000

Lender Fee

$850

Processing Fee

495









Other Costs

E. Taxes and Other Government Fees

$75

Recording Fees and Other Taxes

$75

Transfer Taxes




F. Prepaids

$1,036

Homeowner’s Insurance Premium ( 12 months)

$1,020

Mortgage Insurance Premium ( months)


Prepaid Interest ( $16.03 per day for 1 days @ 3.250%)

$16

PropertyTaxes ( months)


B. Services You Cannot Shop For

$604

Appraisal Fee

$500

Credit Report Fee

$29

Flood Report Fee

$6

Tax Service Fee

$69















G. Initial Escrow Payment at Closing

$1,380

Homeowner’s Insurance $85 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

$0.00



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

$2,491

C. Services You Can Shop For

$2,507

Survey Fee

$375

Tax Service Fee

$66

Title - Search Fee

$100

Title – Lender’s Title Policy Fee

$241

Title – Owner's Title Policy Fee

$1,725









J. TOTAL CLOSING COSTS

$8,222

D + I

$8,222

Lender Credits


Calculating Cash to Close

Total Closing Costs (J)

$8,222

Closing Costs Financed (Paid from your Loan Amount)

$0.00

Down Payment/Funds from Borrower

$45,000

Deposit

$0.00

Funds for Borrower

$0.00

Seller Credits

$0.00

Adjustments and Other Credits

$1,725

Estimated Cash to Close

$54,947

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

$5,731

Customers Reviews:

  • Litanya Bright • May 12, 2017

    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.

  • Linda Simien • July 10, 2014

    Joan

    I very much appreciate all the help you, Elena and Edgar gave to me. I remember you reassured me that you would do everything possible to get me to own a home again. As I have always said you all worked so hard on my behalf and for that I will always be grateful. This was a great team effort that I won't ever forget.

    Thank You,

    Linda Simien

  • Barbara Smethers • May 15, 2013

    Joan,

    Thank you so very much!!! I'm still in a state of shock and disbelief... I really did not expect to close on this deal...You & Eleana have been wonderful and I'm so grateful for all you did to guide me through this entire adventure. I hope to meet you face-to-face someday.

    Barbara

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