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CONVENTIONAL Mortgage Rates

SALE PRICE: $350,000
LOAN TERM: 15 years
PRODUCT : Fixed Rate

Loan Terms

Can this amount increase after closing?

Loan Amount

$280,000

NO

Interest Rate

3.375%

NO

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

$1,984.53

NO

Does the loan have these features?

Prepayment Penalty

NO

Balloon Payment

NO

Projected Payments

Payment Calculation

Years 1-15

Years

Payment Calculation

$1,984.53

$ __

Mortgage Insurance

+

__

+

__

Estimate Escrow
Amount can increase over time

+

570

+

__

Estimated Total
Monthly Payment

$2,555

$__

Estimated Taxes, Insurance
& Assessments

Amount can increase over time

$570
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

$11,192

Includes $8,016 in Loan Costs + $3,176 in Other Costs – $0 in Lender Credits. See page 2 for details.

Estimated Cash to Close

$75,920

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

Closing Cost Details

Projected Payments

A. Origination Charges

$3,760

0 % of Loan Amount (Points)

$1400

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

$1,166

Homeowner’s Insurance Premium ( 12 months)

$1,140

Mortgage Insurance Premium ( months)


Prepaid Interest ( $25.89 per day for 1 days @ 3.375%)

$26

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

$1,710

Homeowner’s Insurance $85 per month for 3 mo.

$255

Mortgage Insurance per month for 0 mo.


Property Taxes $475 per month for 3 mo.

$1,425



H. Other

$175

HOA Transfer Fees

175

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

$3,176

C. Services You Can Shop For

$2,862

Survey Fee

$406

Title - Lender's Title Insurance

$2,040

Title - Settlement/Escrow Fee

$350

Title - Tax Certificate Fee

$66









J. TOTAL CLOSING COSTS

$11,192

D + I

$11,192

Lender Credits


Calculating Cash to Close

Total Closing Costs (J)

$11,192

Closing Costs Financed (Paid from your Loan Amount)

$0.00

Down Payment/Funds from Borrower

$70,000

Deposit

-$3,500

Funds for Borrower

$0.00

Seller Credits

-$1,772

Adjustments and Other Credits

$0.00

Estimated Cash to Close

$75,920

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

$8,016

Customers Reviews:

  • Fernando & Araceli • January 14, 2016

    Dear Joan,

     

    I am writing you to say Thank You for making our dream come true. My family and I appreciate all the time and effort that you gave on this journey of helping us towards acquiring our dream house. We thank you for all the phone calls that you made including those at late hours, the letters that you wrote, for helping us with our credit, for all the updates, for taking the time on the negotiation to get the price to a fair point, and for going above and beyond in this process. We will definitely recommend you to anybody that is seeking help in buying their own new home. I am grateful that you were the one by our side during every step of the way.

     

    Many thanks from Fernando and Araceli.

  • Sharaine & Michael • July 26, 2017

    I don't even know where to start with just how much Joan has helped us going above and beyond of his service. I was impressed with how he handled eveything from beginning til we closed, and made sure he contacted us about every detail necessary. I could reach him even late nights and weekends where he could be spending time with family but instead, he was available to assist us. I highly recommend Joan to anyone and I promise you, you won't regret it.

  • Javier Rodriguez • November 05, 2015

    BEST LOAN OFFICER!!! I had a terrible experience with Nations Reliable Lending. After wasting time, I met Joan Gallardo. He cleaned my credit explaining WITH details what had to be done. He worked day, nights, even on SUNDAYS on getting me approved. Who does that? Just Joan Gallardo!!! I got a 100% financing thanks to Joan. Thanks to Joan my family and I have a place to call a HOME. I recommend everyone to contact JOAN GALLARDO! You will NOT regret it. Thank you Joan!!

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