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FHA Mortgage Rates

SALE PRICE: $205,000
LOAN TERM: 15 years
PRODUCT : Fixed Rate

Loan Terms

Can this amount increase after closing?

Loan Amount

$201,286

NO

Interest Rate

3.375%

NO

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

$1,426.63

NO

Does the loan have these features?

Prepayment Penalty

NO

Balloon Payment

NO

Projected Payments

Payment Calculation

Years 1-15

Years

Payment Calculation

$1,426.63

$__

Mortgage Insurance

+

115

+

__

Estimate Escrow
Amount can increase over time

+

460

+

__

Estimated Total
Monthly Payment

$2,002

$__

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

$10,799

Includes $7,820 in Loan Costs + $2,979 in Other Costs – $0.00 in Lender Credits. See page 2 for details.

Estimated Cash to Close

$7,432

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

Closing Cost Details

Projected Payments

A. Origination Charges

$1,155

0.328 % of Loan Amount (Points)

$660

Contract Processing Fee

$495













Other Costs

E. Taxes and Other Government Fees

$125

Recording Fees and Other Taxes

$125

Transfer Taxes




F. Prepaids

$1,299

Homeowner’s Insurance Premium ( 12 months)

$1,020

Mortgage Insurance Premium ( months)


Prepaid Interest ( $18.61 per day for 1 days @ 3.25%)

$279

PropertyTaxes ( months)


B. Services You Cannot Shop For

$4,281

Appraisal Fee

$560

Credit Report

$44

Document Preparation Fee - TX

$50

Flood Certification

$6

Funding Fee - TX

$100

Tax Service Fee

$69

Up-Front Mortgage Insurance Premium

$3,462









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

$175

HOA Transfer Fees

$175

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

$2,979

C. Services You Can Shop For

$2,384

Survey Fee

$406

Title - Lender's Title Insurance

$1,562

Title - Settlement/Escrow Fee

$350

Title - Tax Certificate Fee

$66










J. TOTAL CLOSING COSTS

$10,799

D + I

$10,799

Lender Credits


Calculating Cash to Close

Total Closing Costs (J)

$10,799

Closing Costs Financed (Paid from your Loan Amount)

$0.00

Down Payment/Funds from Borrower

$0.00

Deposit

$2,050

Funds for Borrower

$0.00

Seller Credits

$0.00

Adjustments and Other Credits

$1,317

Estimated Cash to Close

$7,432

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

$7,820

Customers Reviews:

  • LaStephen Lamar • July 09, 2017

    It was an absolute pleasure working with Clear Lending Home Mortgage! Joan and his team truly worked hard on helping me receive my dream home. As a first time home buyer I was unaware of the process and very unsure of what all it took to complete the process. After receiving constant let down and missed opportunities. I was on the verge of giving up until I spoke to Joan. He and his staff worked hard for me in closing on my first home in under 30 days, with an amazingly low interest rate. There was never a time I questioned Joan or his staff. I went into closing confident with no suprises.They were with me the entire process. Words cannot express how grateful I am of Clear Lending Home Mortgage. The level of professionalism and dedication to work hard for the home buyer is exceptional. I would recommend this company to anyone looking to purchase a home, they won't disappoint! Thank you Joan for everything, you made a dream come true!

  • Tristan Magmoyao • November 26, 2015

    Great experience with this lender! Friendly and professional. They were always quick with responses to my questions and concerns. I would recommend them in a heartbeat. Everything went smoothly. Not only did they respond to all emails but constantly called me keeping me up to date. Thank you Joan.

  • Alejandro Paredes • April 18, 2018

    First and foremost I want to thank the entire Clear Lending team for this incredible experience. Joan Gallardo was very professional and honest throughout this whole process. He took the time to explain everything step by step and at any time of day. I am a DACA recipient and that wasn't no issue at all for Mr. Joan to get me a loan for the low rate of 3.875% interest. To me that is amazing and very appreciated because other loan companies told me I was not able to get a interest rate like that because I was a DACA recipient. I highly recommend Clear Lending for DACA recipients because they opened the doors for me so I can accomplish my dreams of purchasing my first home. Patricia was also very attentive to my process and helpful every step of the way. Mrs. Rosa Iraheta was my realtor who helped me look for the home and made sure it met all my expectations. I can't thank you enough for all the time and hard work you and the whole Clear Lending team put for me and my family to be here today in our new home. May God bless you all! And Thank you!

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