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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:

  • Carolyn De Leon • December 22, 2016

    Good afternoon Joan, thank you so much for all your hard work and patience during this journey. I know it was not easy but we made it. I hope God continues to use you to help make other people's dreams come true. You and your team have been a blessing to my family. Have a Merry Christmas and a most wonderful and prosperous New Year!!!!! Once again, Thank you and Best Regards Carolyn De Leon

  • Michelle Bautista • September 03, 2015

    I just want to take some time and thank Edgar, Joan, & Elena for helping my husband and I get our first home! They are by far the greatest team! Thanks to them our home loan went fast and easy. Once again thank you!!!

  • Jhon Park • October 26, 2016

    Thank you so much Joan for all the hard work you put into getting me and my family our mortgage approval.

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