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CONVENTIONAL Mortgage Rates

SALE PRICE: $350,000
LOAN TERM: 30 years
PRODUCT : Fixed Rate

Loan Terms

Can this amount increase after closing?

Loan Amount

$280,000

NO

Interest Rate

3.990%

NO

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

$1,335.15

NO

Does the loan have these features?

Prepayment Penalty

NO

Balloon Payment

NO

Projected Payments

Payment Calculation

Years 1-30

Years

Payment Calculation

$1,335.15

$__

Mortgage Insurance

+

__

+

__

Estimate Escrow
Amount can increase over time

+

570

+

__

Estimated Total
Monthly Payment

$1,905

$__

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

$11,198

Includes $8,017 in Loan Costs + $3,181 in Other Costs – $0 in Lender Credits. See page 2 for details.

Estimated Cash to Close

$75,926

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

Closing Cost Details

Projected Payments

A. Origination Charges

$3,760

0.5 % of Loan Amount (Points)

$1,400

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

$1,171

Homeowner’s Insurance Premium ( 12 months)

$1,140

Mortgage Insurance Premium ( months)


Prepaid Interest ( $30.61 per day for 15 days @ 3.990%)

$31

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)

$3,181

C. Services You Can Shop For

$2,863

Survey Fee

$406

Title - Lender's Title Insurance

$2,041

Title - Settlement/Escrow Fee

$350

Title - Tax Certificate Fee

$66









J. TOTAL CLOSING COSTS

$11,198

D + I

$11,198

Lender Credits


Calculating Cash to Close

Total Closing Costs (J)

$11,198

Closing Costs Financed (Paid from your Loan Amount)

$0.00

Down Payment/Funds from Borrower

$70,000

Deposit

-$3,500

Funds for Borrower

$0

Seller Credits

-$1,772

Adjustments and Other Credits

$0.00

Estimated Cash to Close

$75,926

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

$8,017

Customers Reviews:

  • Sohail Ahmed • October 03, 2016

    Thanks Joan for helping me refinance my house at such an excellent interest rate. For anyone reading this I want to let you know Joan has worked very hard even calling me 10:00 pm to push me get him documents needed for a final approval. I am very happy you Joan worked my loan and actually we will talk soon for my new coming home. Thanks again Joan.  

  • 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

  • Marina Aguilar • April 24, 2014

    Joan,
    I can't thank you enough for what you did for me and my family. You made the impossible possible. I still can't believe that I am now a homeowner. After being turned down by my bank, a top 3 bank in the US, and them explaining to me that there was no way I was going to be able to purchase a home anytime soon, now I can say that you work miracles. The best experience from this is that you were the most truthful person that I have worked with in this process. Before loan officers would just make me lose time. I have been in this process for the past 4 years until I was referred to you. You on the other hand were able to help me in less than 3 months. And not even at that you gave me the lowest interest rate there is in the market. Thank you.

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