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CONVENTIONAL Mortgage Rates

SALE PRICE: $225,000
LOAN TERM: 30 years
PRODUCT : Fixed Rate

Loan Terms

Can this amount increase after closing?

Loan Amount

$180,000

NO

Interest Rate

3.875%

NO

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

$846.43

NO

Does the loan have these features?

Prepayment Penalty

NO

Balloon Payment

NO

Projected Payments

Payment Calculation

Years 1-30

Years

Payment Calculation

$846.43

$__

Mortgage Insurance

+

__

+

__

Estimate Escrow
Amount can increase over time

+

460

+

__

Estimated Total
Monthly Payment

$1,306.43

$__

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

$8,225

Includes $5,731 in Loan Costs + $2,494 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

$1,039

Homeowner’s Insurance Premium ( 12 months)

$1,020

Mortgage Insurance Premium ( months)


Prepaid Interest ( $17.44 per day for 15 days @ 3.875%)

$19

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



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

$2,494

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

$8,225

D + I

$8,225

Lender Credits


Calculating Cash to Close

Total Closing Costs (J)

$8,506

Closing Costs Financed (Paid from your Loan Amount)

$0.00

Down Payment/Funds from Borrower

$45,000

Deposit

$0.00

Funds for Borrower

$0

Seller Credits

$0

Adjustments and Other Credits

$1,725

Estimated Cash to Close

$51,781

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

$5,731

Customers Reviews:

  • Rebecca Rose • November 04, 2015

    If you want a hard working loan officer Joan Gallardo is the one. Joan worked on our loan day and night plus he was always available whenever we had questions. I learned a lot from him about residential loans in the process. Thanks Joan!

  • Sharon Franco • January 21, 2016

    July 28th.... A very important day for someone at age 44. A huge change that was much needed but none the less, very difficult. After living in my previous home for 15 years and being with someone for 25 years, I found myself back at my Mom’s house and starting over. After wallowing in my sadness for a while, I decided to start looking for a new home for my young adult children, dogs and myself. Thankfully, a cousin had given me a number to a realtor that led me to Joan with Clear Lending. With all the difficult changes I also was in for a fight when it came to applying for a mortgage. Being naive to the process, Joan was very patient and helpful. Even when I felt hopeless, he reminded me constantly it would be okay and it was part of the process, I'm not sure but I think maybe a part of him was starting to see the difficulty I was facing. But one night, I received the best phone call in the world!! I was clear to move forward and close on my home. I thank God every day for putting the right people in my path to help in my new chapter of life. Thank you Joan and Clear Lending for working so hard on my approval for my mortgage.

     

    God Bless

  • Jimmy Nuno • February 05, 2014

    Dear Joan,

    Thank you so much for helping us get our very first home. You were very helpful every step of the way. Thank you for your patience, kind manner, and incredible knowledge in getting us approved and into our first home in such little time. I will send anyone I meet wanting to get a home straight to you. You are the very best Joan! Thanks a million.

    Jimmy Nuno & Juany Diaz

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