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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:

  • Michael Estrada • July 31, 2017

    Joan with Clear Lending is direct, honest and very helpful. We were very lucky to have him. He is very easy to communicate with. He gives you a clear view of your loan situation and then he helps and guides you in each and every step. Ours was not an easy transaction but he was there guiding us the whole time. We got our loan but even if it didn't go our way, I would gladly use him again and very proudly recommend him to anyone.

  • 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

  • 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.

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