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Upto 90% financing for
Purchases of up to $830,000.
USDA Loans for moderate income Families
0% down payment - 100% financing
| SALES PRICE: | $343,750 |
| LOAN TERM: | 30 years |
| PRODUCT: | Fixed Rate |
Loan Terms |
Can this amount increase after closing? |
|
Loan Amount |
$347,222 |
NO |
Interest Rate |
5.125% |
NO |
Monthly Principal & Interest |
$1,890.58 |
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 |
$1,890.58 |
$1,890.58 |
|||||||||||
Mortgage Insurance |
+ 100.46 |
+ 4 |
|||||||||||
Estimate Escrow |
+ 670 |
+ 670 |
|||||||||||
Estimated Total |
$2,661 |
$2,564 |
|||||||||||
Estimated Taxes, Insurance |
|
||||||||||||
Costs at Closing |
||
Estimated Closing Costs |
$14,947 |
Includes $12,024 in Loan Costs + $2,923 in Other Costs – $0.00 in Lender Credits. See page 2 for details. |
Estimated Cash to Close |
$2,075 |
Includes Closing Costs. See Calculating Cash to Close on page 2 for details. |
Projected Payments |
||
A. Origination Charges |
$4,240 |
|
0.125 % of Loan Amount (Points) |
$1,965 |
|
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 |
$1,188 |
|
Homeowner’s Insurance Premium ( 12 months) |
$1,140 |
|
Mortgage Insurance Premium ( months) |
||
Prepaid Interest ($48.75 / day for 1 days @ 5.125%) |
$48 |
|
PropertyTaxes ( months) |
||
B. Services You Cannot Shop For |
$4,922 |
|
Appraisal Fee |
$525 |
|
Contract Processing Fee |
$500 |
|
Credit Report |
$50 |
|
Document Preparation Fee |
$300 |
|
Flood Certification |
$6 |
|
Tax Service Fee |
$69 |
|
USDA Guarantee Fee |
$3472 |
|
G. Initial Escrow Payment at Closing |
$1,435 |
|
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 2 mo. |
$1,150 |
|
H. Other |
$175 |
|
HOA Transfer Fees |
$175 |
|
I. TOTAL OTHER COSTS(E+F+G+H) |
$2,923 |
|
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 |
$14,946 |
|
D + I |
$14,946 |
|
Lender Credits |
||
Calculating Cash to Close |
||
Total Closing Costs (J) |
$14,947 |
|
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 |
-$6,000 |
|
Adjustments and Other Credits |
$0.00 |
|
Estimated Cash to Close |
$2,075 |
|
D. TOTAL LOAN COSTS (A + B + C) |
$12,024 |
|
Good evening my wonderful Clear Lending Team, I just wanted to thank each and every one of you, including Patricia, for all your awesome and amazing job with our last closing. Thanks for putting the loan process together. As always you guys are wonderful and just wanted let you to know I truly appreciate each and everyone of you for all your hard and outstanding work. I know that working together as a team our business will grow. Big hug to all. Thanks and blessings!
FROM GOOGLE: This is our second time purchasing a house with Clear lending. As usual Joan G, Patricia A, and the rest of his team have excedeed expectations. Not only selling our house with Joan was easy and quick but also buying our second house this time. Joan is available whenever needed. Always answering cell phone calls and looking out for his clients. We have recomended his services to all our family and close friends. Very professional, dedicated and amazing team. Whether you are looking to sell, buy or anything else in the real estate business, Clear lending is the prefect place and team to go with. Always recommend 100%! Thank you for everything!!!
It was an absolute pleasure working with Clear Lending Home Mortgage! Joan and his team truly worked hard on helping me receive my dream home. As a first time home buyer I was unaware of the process and very unsure of what all it took to complete the process. After receiving constant let down and missed opportunities. I was on the verge of giving up until I spoke to Joan. He and his staff worked hard for me in closing on my first home in under 30 days, with an amazingly low interest rate. There was never a time I questioned Joan or his staff. I went into closing confident with no suprises.They were with me the entire process. Words cannot express how grateful I am of Clear Lending Home Mortgage. The level of professionalism and dedication to work hard for the home buyer is exceptional. I would recommend this company to anyone looking to purchase a home, they won't disappoint! Thank you Joan for everything, you made a dream come true!
