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USDA Mortgage Rates

SALE PRICE: $343,750
LOAN TERM: 30 years
PRODUCT : Fixed Rate - Rates are subject to change without notice.

Loan Terms

Can this amount increase after closing?

Loan Amount

$347,222

NO

Interest Rate

3.990%

NO

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

$1,655.69

NO

Does the loan have these features?

Prepayment Penalty

NO

Balloon Payment

NO

Projected Payments

Payment Calculation

Years 1-7

Years 8-30

Payment Calculation

$1,655.69

$1,655.69

Mortgage Insurance

+

100.46

+

4

Estimate Escrow
Amount can increase over time

+

670

+

670

Estimated Total
Monthly Payment

$2,426.15

$2,329.69

Estimated Taxes, Insurance
& Assessments

Amount can increase over time

$670
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

$14,390

Includes $10,138 in Loan Costs + $4,252 in Other Costs – $0 in Lender Credits. See page 2 for details.

Estimated Cash to Close

$5,746

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

Closing Cost Details

Projected Payments

A. Origination Charges

$2,360

0 % of Loan Amount (Points)

$0.00

Doc Preparation Fee

$85

Loan Origination Fee

$1,000

Transaction Fee

$575

Warehouse Fee

$700









Other Costs

E. Taxes and Other Government Fees

$125

Recording Fees and Other Taxes

$125

Transfer Taxes




F. Prepaids

$1,178

Homeowner’s Insurance Premium ( 12 months)

$1,140

Mortgage Insurance Premium ( months)


Prepaid Interest ( $34.84 per day for 1 days @ 3.625%)

$38

PropertyTaxes ( months)


B. Services You Cannot Shop For

$4,916

Appraisal Fee

$525

Contract Processing Fee

$500

Credit Report

$44

Document Preparation Fee

$300

Flood Certification

$6

Tax Service Fee

$69

USDA Guarantee Fee

$3472









G. Initial Escrow Payment at Closing

$2,010

Homeowner’s Insurance $95.00 per month for 3 mo.

$285

Mortgage Insurance per month for 0 mo.


Property Taxes $575.00 per month for 3 mo.

$1,725



H. Other

$175

HOA Transfer Fees

$175

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

$3,488

C. Services You Can Shop For

$2,862

Survey Fee

$406

Title - Lender's Title Insurance

$2,040

Title - Settlement/Escrow Fee

$350

Title - Tax Certificate Fee

$66










J. TOTAL CLOSING COSTS

$13,626

D + I

$14,390

Lender Credits


Calculating Cash to Close

Total Closing Costs (J)

$14,390

Closing Costs Financed (Paid from your Loan Amount)

-$3,472

Down Payment/Funds from Borrower

$0.00

Deposit

-$3,400

Funds for Borrower

$0.00

Seller Credits

-$1,772

Adjustments and Other Credits

$0.00

Estimated Cash to Close

$5,746

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

$10,138

Customers Reviews:

  • 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.

  • 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.

  • Mary Jones • July 27, 2018

    Thanks Joan, Patricia and Samantha for your amazing help making the purchase of my dream house possible. I really recommend Clear Lending and its team. I remember searching for local lenders who would lend borrowers with low credit scores and I found them. I read some reviews and realized some had been in my same situation. I applied and after 67 days I closed the purchase of the cutest house! They even helped me negotiate with sellers to get them pay all closing costs. Joan I am so thankful I will refer you everyone that is in need to buy a house. I will never forget what you and your team have done for me and my family. Thanks, thanks and thanks again!!!!   

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