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Residency, Social Security or Income in the US
All Government Programs
First-Time Buyer, Rural and Veterans Programs
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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: | $600,000 |
| LOAN TERM: | 30 years |
| PRODUCT: | Fixed Rate |
Loan Terms |
Can this amount increase after closing? |
|
Loan Amount |
$582,000 |
NO |
Interest Rate |
5.625% |
NO |
Monthly Principal & Interest |
$3,350.82 |
NO |
Does the loan have these features? |
||
Prepayment Penalty |
NO
|
|
Balloon Payment |
NO |
Projected Payments |
|||||||||||||
Payment Calculation |
Years 1-30 |
Years |
|||||||||||
Payment Calculation |
$3,350.82 |
$__ |
|||||||||||
Mortgage Insurance |
+ $189.15 |
+ __ |
|||||||||||
Estimate Escrow |
+ $1,623 |
+ __ |
|||||||||||
Estimated Total |
$5,162.97 |
$__ |
|||||||||||
Estimated Taxes, Insurance |
|
||||||||||||
Costs at Closing |
||
Estimated Closing Costs |
$22,919 |
Includes $12,656 in Loan Costs + $10,263 in Other Costs – $0 in Lender Credits. See page 2 for details. |
Estimated Cash to Close |
$24,919 |
Includes Closing Costs. See Calculating Cash to Close on page 2 for details. |
Projected Payments |
||
A. Origination Charges |
$5,995 |
|
1.0333% of Loan Amount (Discount Points) |
$5,820 |
|
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 |
$4,889 |
|
Homeowner’s Insurance Premium ( 12 months) |
$4,800 |
|
Mortgage Insurance Premium ( months) |
||
Prepaid Interest ( $89.65 / day for 1 days @ 5.625%) |
$89.95 |
|
PropertyTaxes ( months) |
||
B. Services You Cannot Shop For |
$1,295 |
|
Appraisal Fee |
$600 |
|
Contract Processing Fee |
$500 |
|
Credit Report |
$95 |
|
|
Flood Certification |
$15 |
|
|
Tax Service Fee |
$85 |
|
G. Initial Escrow Payment at Closing |
$4,899 |
|
Homeowner’s Insurance $400 per month for 3 mo. |
$1,200 |
|
Mortgage Insurance per month for 0 mo. |
||
Property Taxes $1,233 per month for 3 mo. |
$3,699 |
|
H. Other |
$350 |
|
HOA Transfer Fees |
$350 |
|
I. TOTAL OTHER COSTS(E+F+G+H) |
$10,263 |
|
C. Services You Can Shop For |
$5,366 |
|
Survey Fee |
$575 |
|
|
Title - Abstract/Title Search Fee |
$100 |
|
Title - Lender's Title Insurance |
$4,056 |
|
Title - Settlement/Escrow Fee |
$550 |
|
Title - Tax Certificate Fee |
$85 |
|
J. TOTAL CLOSING COSTS |
$22,919 |
|
D + I |
$22,919 |
|
Lender Credits |
||
Calculating Cash to Close |
||
Total Closing Costs (J) |
$22,919 |
|
Closing Costs Financed (Paid from your Loan Amount) |
$0.00 |
|
Down Payment/Funds from Borrower |
$18,000 |
|
Deposit |
-$6,000 |
|
Funds for Borrower |
$0 |
|
Seller Credits |
-$10,000 |
|
Adjustments and Other Credits |
$0.00 |
|
Estimated Cash to Close |
$24,919 |
|
D. TOTAL LOAN COSTS (A + B + C) |
$12,656 |
|
We had a fantastic experience working with Joan Gallardo at Clear Lending. From start to finish, Joan was knowledgeable, patient, and incredibly helpful. He took the time to explain every step of the process, answer all of our questions, and make sure we felt confident in our decisions. His responsiveness and professionalism made what can be a stressful process feel smooth and manageable. We truly appreciate his dedication and expertise, and we highly recommend Joan to anyone looking for a reliable, trustworthy mortgage professional. Thank you, Joan & Patricia, for helping us achieve our homeownership goals!
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.
Mi esposa y yo aplicamos para el programa de ITIN nos ayudaron a reunir todos los requisitos y cuando fuimos aprobados tambien ellos nos ayudaron a buscar la casa. Al hacer los 2 tramites aqui nos dieron un credito para nuestros gastos de cierre. Joan y a su equipo muchas gracias.
