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FHA Mortgage Rates

SALE PRICE: $180,000
LOAN TERM: 15 years
PRODUCT : Fixed Rate

Loan Terms

Can this amount increase after closing?

Loan Amount

$176,739

NO

Interest Rate

3.250%

NO

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

$1,241.89

NO

Does the loan have these features?

Prepayment Penalty

NO

Balloon Payment

NO

Projected Payments

Payment Calculation

Years 1-15

Years

Payment Calculation

$1,241.89

$__

Mortgage Insurance

+

123

+

__

Estimate Escrow
Amount can increase over time

+

350

+

__

Estimated Total
Monthly Payment

$1,714.89

$__

Estimated Taxes, Insurance
& Assessments

Amount can increase over time

$350
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

$2,781

Includes $6,552 in Loan Costs + $2,042 in Other Costs – $5,813 in Lender Credits. See page 2 for details.

Estimated Cash to Close

$7,753

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

Closing Cost Details

Projected Payments

A. Origination Charges

$745

0 % of Loan Amount (Points)

$0.00

Lender Document Preparation Fee

$250

Processing Fee

$495













Other Costs

E. Taxes and Other Government Fees

$75

Recording Fees and Other Taxes

$75

Transfer Taxes




F. Prepaids

$916

Homeowner’s Insurance Premium ( 12 months)

$900

Mortgage Insurance Premium ( months)


Prepaid Interest ( $15.74 per day for 1 days @ 3.25%)

$16

PropertyTaxes ( months)


B. Services You Cannot Shop For

$3,704

Appraisal Fee

$560

Credit Report Fee

$29

Flood Certification Fee

$6

Mortgage Insirance Premium

$3,040

Tax Service Fee

$69













G. Initial Escrow Payment at Closing

$1,050

Homeowner’s Insurance $75 per month for 3 mo.

$225

Mortgage Insurance per month for 0 mo.


Property Taxes $275 per month for 3 mo.

$825



H. Other

$0.00

Title – Owner’s Title Policy (optional)

$0.00

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

$2,040

C. Services You Can Shop For

$2,103

Survey Fee

$375

Tax Certificate Fee

$66

Title  Title Search

$100

Title – Lender’s Title Insurance

$234

Title – Owner’s Title Insurance

$1,328









J. TOTAL CLOSING COSTS

$8,592

D + I

$8,592

Lender Credits


Calculating Cash to Close

Total Closing Costs (J)

$2,781

Closing Costs Financed (Paid from your Loan Amount)

$0.00

Down Payment/Funds from Borrower

$6,300

Deposit

$0.00

Funds for Borrower

$0.00

Seller Credits

$0.00

Adjustments and Other Credits

$1,328

Estimated Cash to Close

$7,753

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

$6,552

Customers Reviews:

  • 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.

  • Martha Idalia • November 06, 2015

    Thank you for your professionalism and quick thorough response in working with my loan. Always very clear. Great experience, thank you!

  • Cody Sherrill • December 12, 2016

    Thanks Joan for you amazing work with our home loan. I still can’t believe I purchased a house for $174,000 and went to closing with $769 besides my $1000 earnest money deposit. I submitted an application online on 10/5/2016 after I read online about VA Programs Clear Lending offered. Next day Joan Gallardo called me and after his applications dept. completed an Pre-Approval, he told me from the start not to worry that he would be able to take care of me. And boy he did! He even negotiated on behalf of my agent with listing agent getting me a large seller contribution. This guy is very knowledgeable and I truly recommend him. Joan my wife and I cannot thank you enough all hard work you have done and no need to say I will refer you my friends. Actually I already sent you my boss. Take good care of Jorge! Thanks Joan.

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