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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:

  • 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.

  • 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

  • Blanca y Esteban Martinez • January 31, 2014

    Estimado Joan,

    Tu y tu equipo han sido una bendición en nuestro cierre. Tu integridad, eficiencia y conocimiento en este ramo y el servicio al cliente durante nuestro proceso de compra, nos ha ayudado a tener una experiencia placentera y excelente! Hay mucha gente que hace un buen negocio, pero tu has hecho de este negocio algo BUENO y una realidad. Que Dios te bendiga y muchísimas gracias de nuevo!

    Blanca y Esteban Martínez

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