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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 |
|
I would like to thank Mr. Joan Gallardo and his team for the information and support given in the complicated process of buying a house for the first time. I thought it would be very difficult and that things would not go as expected but it was all otherwise ... Thanks to the dedication of the staff of the Clear Lending office, everything went better than we had thought .. .. Closing with a very low interest and with input to our favor at the close of our house ... I reiterate our gratitude and I highly recommend this special team ...
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.
Thanks Joan, Patricia and Jorge for helping us to buy our first home. You all are kind, knowledgeable and very professional. Even thgough we were referred to you guys and so we were told you were amazing, my husband and I are happy to confirm you are everything our friends already told us about working with Clear Lending. We will use you again for an investment house we have soon in mind. Thanks again for your hard work.
