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USDA Mortgage Rates

SALE PRICE: $180,000
LOAN TERM: 30 years
PRODUCT : Fixed Rate

Loan Terms

Can this amount increase after closing?

Loan Amount

$162,000

NO

Interest Rate

3.875%

NO

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

$761.78

NO

Does the loan have these features?

Prepayment Penalty

NO • As high as $3,240 if you pay off the loan during the first 2 years

Balloon Payment

NO

Projected Payments

Payment Calculation

Years 1-7

Years 8-30

Payment Calculation

$761.78

$761.78

Mortgage Insurance

+

82

+

__

Estimate Escrow
Amount can increase over time

+

206

+

206

Estimated Total
Monthly Payment

$1,050

$968

Estimated Taxes, Insurance
& Assessments

Amount can increase over time

$206a
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

$8,054

Includes $5,672 in Loan Costs + $2,382 in Other Costs – $0 in Lender Credits. See page 2 for details.

Estimated Cash to Close

$16,054

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

Closing Cost Details

Projected Payments

A. Origination Charges

$1,802

.25 % of Loan Amount (Points)

$405

Application Fee

$300

Underwriting Fee

$1,097

Other Costs

E. Taxes and Other Government Fees

$85

Recording Fees and Other Taxes

$85

Transfer Taxes

F. Prepaids

$867

Homeowner’s Insurance Premium ( 6 months)

$605

Mortgage Insurance Premium ( months)

Prepaid Interest ( $17.44 per day for 15 days @ 3.875%)

$262

PropertyTaxes ( months)

B. Services You Cannot Shop For

$672

Appraisal Fee

$405

Credit Report Fee

$30

Flood Determination Fee

$20

Flood Monitoring Fee

$32

Tax Monitoring Fee

$75

Tax Status Research Fee

$110

G. Initial Escrow Payment at Closing

$413

Homeowner’s Insurance $100.83 per month for 23mo.

$202

Mortgage Insurance per month for 0 mo.

Property Taxes $105.30 per month for 2 mo.

$211

H. Other

$1,017

Title – Owner’s Title Policy (optional)

$1,017

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

$2,382

C. Services You Can Shop For

$3,198

Pest Inspection Fee

$135

Survey Fee

$65

Title – Insurance Binder

$700

Title – Lender’s Title Policy

$535

Title – Settlement Agent Fee

$502

Title – Title Search

$1,261

J. TOTAL CLOSING COSTS

$8,054

D + I

$8,054

Lender Credits

Calculating Cash to Close

Total Closing Costs (J)

$8,054

Closing Costs Financed (Paid from your Loan Amount)

$0

Down Payment/Funds from Borrower

$18,000

Deposit

-$10,000

Funds for Borrower

$0

Seller Credits

$0

Adjustments and Other Credits

$0

Estimated Cash to Close

$16,054

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

$5,672

Customers Reviews:

  • Denita Hawkins • July 19, 2017

    Thank you Joan! You TRANSFORMED a Nightmare into a DREAM!

  • Rosa Iraheta • March 28, 2018

    Joan has help many of my clients to get their loans, he is very professionals and helpful, and always available for any questions that me or my clients had during the loan process. One of my client was in DACA program and Joan help him to get his loan. I will recommend Joan and his team . Thanks you

  • Bobby & Dyann • September 09, 2017

    Joan is awesome! He helped us secure a home loan in a very short time. After being rejected, losing money and valuable time with another organization, Joan accomplished what I thought was impossible. I found Joan to be knowledgeable, professional and driven in his efforts to get us approved. He communicated to us throughout the process and was responsive to my questions and concerns. I would recommend anyone looking at purchasing a home to contact Joan and he will make it happen. He is great! Thanks Joan!!

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