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Interest Rates - CLICK HERE - Rates are subject to change without notice

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JUMBO Texas Rates

SALES PRICE: $2,500,000
LOAN TERM: 30 years
PRODUCT: Fixed Rate

Loan Terms

Can this amount increase after closing?

Loan Amount

$2,000,000

NO

Interest Rate

6.000%

NO

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

$11,991.00

NO

Does the loan have these features?

Prepayment Penalty

NO

Balloon Payment

NO

Projected Payments

Payment Calculation

Years 1-30

Years

Payment Calculation

$11,991.00

$__

Mortgage Insurance

+

__

+

__

Estimate Escrow
Amount can increase over time

+

$4,907

+

__

Estimated Total
Monthly Payment

$16,898.00

$__

Estimated Taxes, Insurance
& Assessments

Amount can increase over time

$4,907
month

This estimate includes

In escrow?

Property Taxes

NO

Homeowner’s Insurance

NO

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

$56,475

Includes $40,011 in Loan Costs + 16,464 in Other Costs – $0 in Lender Credits. See page 2 for details.

Estimated Cash to Close

$531,475

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

Closing Cost Details

Projected Payments

A. Origination Charges

$20,085

1.198 % of Loan Amount (Points)

$20,000

Document Review Fee

$85

Other Costs

E. Taxes and Other Government Fees

$125

Recording Fees and Other Taxes

$125

Transfer Taxes

F. Prepaids

$15,889

Homeowner’s Insurance Premium ( 12 months)

$15,540

Mortgage Insurance Premium ( months)

Prepaid Interest ( $349.32 / day for 1 days @ 6.000%)

$349.32

PropertyTaxes ( months)

B. Services You Cannot Shop For

$3,444

Appraisal Fee

$2,500

Contract Processing Fee

$500

Credit Report

$44

Document Preparation Fee

$300

Flood Certification

$15

Tax Service Fee

$85

G. Initial Escrow Payment at Closing

$0.00

Homeowner’s Insurance $1,295 per month for 0 mo.

$0.00

Mortgage Insurance per month for 0 mo.

Property Taxes $3,612 per month for 0 mo.

$0.00

H. Other

$450

HOA Transfer Fees

Title - Owner's Title Insurance

$350

$250
$100

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

$16,464

C. Services You Can Shop For

$16,482

Survey Fee

$2,000

Title - Lender's Title Insurance

$13,847

Title - Settlement/Escrow Fee

$550

Title - Tax Certificate Fee

$85





J. TOTAL CLOSING COSTS

$56,475

D + I

$56,475

Lender Credits

Calculating Cash to Close

Total Closing Costs (J)

$56,475

Closing Costs Financed (Paid from your Loan Amount)

$0.00

Down Payment/Funds from Borrower

$500,000

Deposit

-$25,000

Funds for Borrower

$0

Seller Credits

$0.00

Adjustments and Other Credits

$0.00

Estimated Cash to Close

$531,475

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

$40,011

How to find and compare home mortgage loan interest rates...

 

The process of searching for the best interest rates in Houston is in many occasions a complicated full-time work.

Buying a house involves many complex decisions and besides finding the right house, it would be fair to say the most important is the mortgage loan interest rate. Making sure we will not be paying more interest than we would otherwise with a lower interest rate over a 15- or 30-year term is extremely important.

Consider the following hypothetical scenario which in no way is an offer or extension for credit at 2 different possible interest rates assuming $0 closing costs and no mortgage insurance. We offered $325,000 for the perfect house and seller has accepted. Therefore, the following numbers,

Purchase price: $325,000
Down Payment: $16,250 (5%)
Loan Amount: $308,750
Option 1 at 4.875% - Monthly payment: $1,633.93
Option 2 at 4.625% - Monthly payment: $1,587.41

If we were going to close the purchase of such house at the higher interest rate of 4.875% and a payment of $1,633.93, the opportunity cost of not closing at the lower rate of 4.625% would be $34,299.30. Why? Because if we were to choose higher interest rate and thus higher monthly payment if applied to lower rate on a 30-year mortgage, we would accelerate the term of our loan by 21 payments at $1,633.93 would equals the $34,299.30. And any other effort to pay more would equally accelerate faster the repayment of the note.

But finding the best interest rates in Houston not only depends on finding the cheapest bank but also finding the best partnership to complete the home purchase. Clear Lending offers the best interest rates in Houston by setting up Realtor-Loan Officer partnerships where better rates can be obtained than most competitors without the need to waste time searching for dozens of banks and lenders.

Simply apply now and we will start your home loan approval with all your options to compare.

 

Customers Reviews:

  • Blanca Perez

    Nuestra experiencia con Clear Lending fue sin duda una de las mejores. Al principio pensamos que era imposible comprar casa pero con la ayuda de Joan y su equipo nuestro sueño se hizo realidad. Si tienes duda llama ellos siempre estan disponibles. Incluso una amiga quien estuvo en mi caso ya obtuvo su primer casa. MIL GRACIAS!!!

  • Jackie Sullivan

    FROM GOOGLE: I worked with Joan at Clear Lending. Joan worked not only as a lender but as a realtor showing me the houses. He communicated with me every step of the way and answered any questions I had. He was honest about the properties we looked at and was very helpful with suggestions for renovations I was interested in. He made suggestions for contractors after I closed on a house who offered fair prices and did exceptional work. Joan will go the extra step for you plus some and I would recommend him and Clear Lending to anyone who is interested in buying a new home. Joan is dedicated and will get the job done! He made my first home buying process enjoyable and easy. His honesty and hard work are appreciated! I have already recommended Joan to friends who have just started looking for new homes.

  • Raul Orta

    After being denied by two other loan officers we decided to contact Joan. Not only was Joan able to get us a quick approval but we closed with less than the amount needed. He is dedicated and consistent. Thank you for making our dreams come true. We will forever be grateful!

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