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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

$350,765

NO

Interest Rate

3.625%

NO

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

$1,599.67

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

$1,599.67

$1,599.67

Mortgage Insurance

+

145

+

4

Estimate Escrow
Amount can increase over time

+

670

+

670

Estimated Total
Monthly Payment

$2,414.67

$2,274.67

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

$15,775

Includes $12,515 in Loan Costs + $3,760 in Other Costs – $0 in Lender Credits. See page 2 for details.

Estimated Cash to Close

$6,312

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

Closing Cost Details

Projected Payments

A. Origination Charges

$1,620

0 % of Loan Amount (Points)

$0.00

Doc Preparation Fee

$275

Lender Fee

$850

Processing Fee

$495











Other Costs

E. Taxes and Other Government Fees

$75

Recording Fees and Other Taxes

$75

Transfer Taxes




F. Prepaids

$1,175

Homeowner’s Insurance Premium ( 12 months)

$1,140

Mortgage Insurance Premium ( months)


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

$35

PropertyTaxes ( months)


B. Services You Cannot Shop For

$7,619

Appraisal Fee

$500

Credit Report Fee

$29

Flood Determination Fee

$6

Mortgage Insurance Premium Fee

$7,015

Tax Service Fee

$69













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

$0.00



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

$3,260

C. Services You Can Shop For

$3,276

Title - Title Search Fee

$100

Survey Fee

$375

Tax Certificate Fee

$66

Title – Lender’s Title Policy

$287

Title – Owner's Title Policy

$2,448









J. TOTAL CLOSING COSTS

$16,275

D + I

$15,775

Lender Credits


Calculating Cash to Close

Total Closing Costs (J)

$15,775

Closing Costs Financed (Paid from your Loan Amount)

$7.015

Down Payment/Funds from Borrower

$0.00

Deposit

$0.00

Funds for Borrower

$0.00

Seller Credits

$0.00

Adjustments and Other Credits

$2,448

Estimated Cash to Close

$6,312

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

$12,515

Customers Reviews:

  • Roy & Denita Hawkins • July 19, 2017

    Joan and Clear Lending were a blessing for our family! Prior to working with Joan, I ran into one brick wall after another with financial institutions that simply judged me based on a "credit score" without taking into account any contributing factors beyond my control. Fortunately for us, we met Joan. He was able to do something that up until that point seemed impossible...approval for a home purchase! He worked long hours and showed great patience. We have been in our new home purchase a little over two months and we owe Joan a great deal of credit. I recommend anyone who is interested in purchasing a home to give Joan a call before you give up. If it can be done he is the guy to make it happen! I have already referred a family member and they are excited. Thanks, Joan!

  • Gema Ibett • July 31, 2017

    Our experience with Joan was phenomenal. He worked diligently throughout the holidays last year to ensure we closed as promptly as possible. Will and have definitely recommended him to anyone else that's been looking. Thanks again for everything you did!

  • Julio Gomez • October 09, 2016

    It was great to have Clear Lending support to achieve my objectives. My Family and I contacted Clear Lending from Indonesia for primary home mortgage. All the process was completed remotely by email and Whatsapp. Upon getting the credit approval, we chose our new home and closed the purchase successfully and timely. My Family and I are very lucky to count on you and we wish to thank you for a fantastic services and for your guidance and advise.

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