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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: | $295,000 |
| LOAN TERM: | 30 years |
| PRODUCT: | Fixed Rate |
Loan Terms |
Can this amount increase after closing? |
|
Loan Amount |
$289,656 |
NO |
Interest Rate |
5.125% |
NO |
Monthly Principal & Interest |
$1,577.14 |
NO |
Does the loan have these features? |
||
Prepayment Penalty |
NO
|
|
Balloon Payment |
NO |
Projected Payments |
|||||||||||||
Payment Calculation |
Years 1-30 |
Years |
|||||||||||
Payment Calculation |
$1,577.14 |
$ |
|||||||||||
Mortgage Insurance |
+ 201.64 |
+ |
|||||||||||
Estimate Escrow |
+ $692.26 |
+ |
|||||||||||
Estimated Total |
$2,471.04 |
$ |
|||||||||||
Estimated Taxes, Insurance |
|
||||||||||||
Costs at Closing |
||
Estimated Closing Costs |
$20,483 |
Includes $15,188 in Loan Costs + $5,295 in Other Costs – $0.00 in Lender Credits. See page 2 for details. |
Estimated Cash to Close |
$12,876 |
Includes Closing Costs. See Calculating Cash to Close on page 2 for details. |
Projected Payments |
||
A. Origination Charges |
$5,445 |
|
1.811 % Loan Origination (Points) |
$5,245 |
|
Lender Document Attorney Preparation Fee |
$200 |
|
Other Costs |
||
E. Taxes and Other Government Fees |
$125 |
|
Recording Fees and Other Taxes |
$125 |
|
Transfer Taxes |
||
F. Prepaids |
$2,743 |
|
Homeowner’s Insurance Premium ( 12 months) |
$2,700 |
|
Mortgage Insurance Premium ( months) |
||
Prepaid Interest ($43.25 / day for 1 days @ 5.125 %) |
$43.25 |
|
PropertyTaxes ( months) |
||
B. Services You Cannot Shop For |
$6,347 |
|
Appraisal Fee |
$670 |
|
Credit Report Fee |
$95 |
|
Contract Processing Fee |
$500 |
|
Flood Certification |
$15 |
|
Tax Service Fee |
$85 |
|
Up-Front Mortgage Insurance Premium |
$4,982 |
|
G. Initial Escrow Payment at Closing |
$2,077 |
|
Homeowner’s Insurance $225 per month for 3 mo. |
$675 |
|
Mortgage Insurance per month for 0 mo. |
||
Property Taxes $467.26 per month for 3 mo. |
$1,402 |
|
H. Other |
$350 |
|
HOA Transfer Fees |
$250 |
|
Owner Title Policy |
$100 |
|
I. TOTAL OTHER COSTS(E+F+G+H) |
$5,295 |
|
C. Services You Can Shop For |
$3,396 |
|
Survey Fee |
$550 |
|
Title - Lender's Title Insurance |
$2,211 |
|
Title - Settlement/Escrow Fee |
$550 |
|
Title - Tax Certificate Fee |
$85 |
|
J. TOTAL CLOSING COSTS |
$20,483 |
|
D + I |
$20,483 |
|
Lender Credits |
||
Calculating Cash to Close |
||
Total Closing Costs (J) |
$20,483 |
|
Closing Costs Financed (Paid from your Loan Amount) |
-$4,982 |
|
Down Payment/Funds from Borrower |
$10,325 |
|
Deposit (1% of Purchase Contract) |
-$2,950 |
|
Funds for Borrower |
$0.00 |
|
Seller Credits |
-$10,000 |
|
Adjustments and Other Credits |
$0.00 |
|
Estimated Cash to Close |
$12,876 |
|
D. TOTAL LOAN COSTS (A + B + C) |
$15,188 |
|
FROM GOOGLE: AWESOME! Thank you, Joan, for everything! Charles and I are very happy with our experience and our new home. Thank you for being patient and explaining everything so thoroughly. Joan and his staff are great. Everyone was very helpful and friendly along the way. If you're a first time home buyer Joan is the perfect person to help you.
Thanks Joan, Patricia and Samantha for all your help throughout this process. My wife and I cannot thank you enough for making our dream to own a house possible. I will recommend all my family and friends. Thanks again.
FROM GOOGLE: Joan was incredible and helped me get my VA jumbo loan to purchase my property. From finding the right property to walking me through every step of the loan and closing process, Joan provided superior service. I highly recommend him!!!
