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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:

  • Aura Figueroa • October 08, 2017

    We are very happy with the service provided by Joan, Patricia and Elena. They were patient with us and explained all the process step by step. I highly recommend Clear Lending, they answered all our questions, and never rushed us to do anything. Great service!

  • Marina Aguilar • April 24, 2014

    Joan,
    I can't thank you enough for what you did for me and my family. You made the impossible possible. I still can't believe that I am now a homeowner. After being turned down by my bank, a top 3 bank in the US, and them explaining to me that there was no way I was going to be able to purchase a home anytime soon, now I can say that you work miracles. The best experience from this is that you were the most truthful person that I have worked with in this process. Before loan officers would just make me lose time. I have been in this process for the past 4 years until I was referred to you. You on the other hand were able to help me in less than 3 months. And not even at that you gave me the lowest interest rate there is in the market. Thank you.

  • Nicole Elizabeth • June 05, 2015

    Joan was amazing! After being let down by Chase mortgage company, Joan and his team picked up the pieces and helped me out tremendously! I would recommend going through him for loans instead of a big commercial bank. No matter what time of day; he would answer any questions or reached out to me about any concerns. He is with you and the realtor every step of the way to help get you a home. Very passionate about helping clients get a home! I would like to thank Joan and his team for helping me get my first home! Y'all made the home buying process easy for me! Thank you again. I love my home.

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