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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:

  • 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!

  • Ricardo Cruz • October 23, 2015

    I would like to thank Joan for everything he did for us. He is the best in the business and is very knowledgeable. He made the home buying process very enjoyable and he was available at any time to answer any questions we had. He was easy to contact and easy to talk to. I will be referring everyone I know to Joan. Thank you.

  • Linda Simien • July 10, 2014

    Joan

    I very much appreciate all the help you, Elena and Edgar gave to me. I remember you reassured me that you would do everything possible to get me to own a home again. As I have always said you all worked so hard on my behalf and for that I will always be grateful. This was a great team effort that I won't ever forget.

    Thank You,

    Linda Simien

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