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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: | $464,900 |
| LOAN TERM: | 30 years |
| PRODUCT: | Fixed Rate |
Loan Terms |
Can this amount increase after closing? |
|
Loan Amount |
$475,592 |
NO |
Interest Rate |
5.750% |
NO |
Monthly Principal & Interest |
$2,775.43 |
NO |
Does the loan have these features? |
||
Prepayment Penalty |
NO
|
|
Balloon Payment |
NO |
Projected Payments |
|||||||||||||
Payment Calculation |
Years 1-30 |
||||||||||||
Payment Calculation |
$2,775.43 |
$ |
|||||||||||
Mortgage Insurance |
+ __ |
+ __ |
|||||||||||
Estimate Escrow |
+ $832.00 |
+ __ |
|||||||||||
Estimated Total |
$3,607.43 |
$ |
|||||||||||
Estimated Taxes, Insurance |
|
||||||||||||
Costs at Closing |
||
Estimated Closing Costs |
$28,846 |
Includes $23,794 in Loan Costs + $5,052 in Other Costs – $0.00 in Lender Credits. See page 2 for details. |
Estimated Cash to Close |
$7,504 |
Includes Closing Costs. See Calculating Cash to Close on page 2 for details. |
Projected Payments |
||
A. Origination Charges |
$7,834.97 |
|
1.1186 % of Loan Amount (Discount Points) |
$5,319.97 |
|
Loan Origination |
$2,340.00 |
|
Lender Document Attorney Preparation Fee |
$175 |
|
Other Costs |
||
E. Taxes and Other Government Fees |
$125 |
|
Recording Fees and Other Taxes |
$125 |
|
Transfer Taxes |
||
F. Prepaids |
$2,256 |
|
Homeowner’s Insurance Premium ( 12 months) |
$2,185 |
|
Mortgage Insurance Premium ( months) |
||
Prepaid Interest ($75.96 / day for 1 days @ 5.750%) |
$75.96 |
|
PropertyTaxes ( months) |
||
B. Services You Cannot Shop For |
$11,994 |
|
Appraisal Fee |
$670 |
|
Contract Processing Fee |
$500 |
|
Credit Report |
$56 |
|
Flood Certification Fee |
$6 |
|
Tax Service Fee |
$69 |
|
VA Funding Fee |
$10,693 |
|
G. Initial Escrow Payment at Closing |
$2,496 |
|
Homeowner’s Insurance $182.09 / month for 3 mo. |
$546 |
|
Mortgage Insurance per month for 0 mo. |
||
Property Taxes $650 per month for 3 mo. |
$1,950 |
|
H. Other |
$175 |
|
HOA Transfer Fees |
$175 |
|
I. TOTAL OTHER COSTS(E+F+G+H) |
$5,052 |
|
C. Services You Can Shop For |
$3,966 |
|
Survey Fee |
$450 |
|
Title - Abstract/Title Search Fee |
$100 |
|
Title - Lender's Title Insurance |
$2,855 |
|
Title - Settlement/Escrow Fee |
$495 |
|
Title - Tax Certificate Fee |
$66 |
|
J. TOTAL CLOSING COSTS |
$28,846.97 |
|
D + I |
$28,846.97 |
|
Lender Credits |
||
Calculating Cash to Close |
||
Total Closing Costs (J) |
$28,846 |
|
Closing Costs Financed (Paid from your Loan Amount) |
-$10,693 |
|
Down Payment/Funds from Borrower |
$0.00 |
|
Deposit |
-$4,649 |
|
Funds for Borrower |
$0.00 |
|
Seller Credits |
-$6,000 |
|
Adjustments and Other Credits |
$0.00 |
|
Estimated Cash to Close |
$7,504 |
|
D. TOTAL LOAN COSTS (A + B + C) |
$23,794.97 |
|
Thank you so much clear lending. I cant thank you enough for working with us to be able to buy our home. We are so happy and grateful we have been able to close on our first home. Anyone in need of committed loan officer dont look any where else. Joan is the real deal. Thank you Sir.
Words really can’t express our gratitude to Joan and his attentive and polite team of experts, ( Patricia ) who were always professional and answered all our questions promptly in a knowledgeable manner. Joan worked very hard at getting all the paperwork done and getting us into our dream home. Thank you very much for your hard work. If you are a first-time home buyer, we would definitely recommend using Clear Lending.
Great company, great service and great results. I am very satisfied with the level and quality of service. I can tell these people know what they are doing.
