SALES PRICE: | $464,900 |
LOAN TERM: | 15 years |
PRODUCT: | Fixed Rate |
Loan Terms |
Can this amount increase after closing? |
|
Loan Amount |
$475,592 |
NO |
Interest Rate |
5.625% |
NO |
Monthly Principal & Interest |
$3,917.60 |
NO |
Does the loan have these features? |
||
Prepayment Penalty |
NO
|
|
Balloon Payment |
NO |
Projected Payments |
|||||||||||||
Payment Calculation |
Years 1-15 |
Years |
|||||||||||
Payment Calculation |
$3,917.60 |
$__ |
|||||||||||
Mortgage Insurance |
+ __ |
+ __ |
|||||||||||
Estimate Escrow |
+ 832 |
+ __ |
|||||||||||
Estimated Total |
$4,749.60 |
$__ |
|||||||||||
Estimated Taxes, Insurance |
|
Costs at Closing |
||
Estimated Closing Costs |
$29,434 |
Includes $24,386 in Loan Costs + $5,048 in Other Costs – $0.00 in Lender Credits. See page 2 for details. |
Estimated Cash to Close |
$8,092 |
Includes Closing Costs. See Calculating Cash to Close on page 2 for details. |
Projected Payments |
||
A. Origination Charges |
$8,426.63 |
|
1.280 % of Loan Amount (Points) |
$6,086.63 |
|
Loan Origination Fee |
$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 |
$2,252 |
|
Homeowner’s Insurance Premium ( 12 months) |
$2,185 |
|
Mortgage Insurance Premium ( months) |
||
Prepaid Interest ($67.71 / day for 1 days @ 5.125%) |
$67 |
|
PropertyTaxes ( months) |
B. Services You Cannot Shop For |
$11,994 |
|
Appraisal Fee |
$670 |
|
Contract Processing Fee |
$500 |
|
Credit Report |
$56 |
|
Flood Certification |
$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 2 mo. |
$1,950 |
|
H. Other |
$175 |
|
HOA Transfer Fees |
$175 |
|
I. TOTAL OTHER COSTS(E+F+G+H) |
$5,048 |
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 |
$29,434 |
|
D + I |
$29,434 |
|
Lender Credits |
Calculating Cash to Close |
||
Total Closing Costs (J) |
$29,434 |
|
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 |
$8,092 |
D. TOTAL LOAN COSTS (A + B + C) |
$24,386.63 |
FROM GOOGLE: Working with Joan and his staff was an awesome experience. He was always available and ready to answer any question. They helped us with a construction loan to build our dream house. They guided us step by step making it really easy to get the One-Time-Close Construction Loan. If you want to make your dream of building your own house come true, we strongly recommend Clear Lending to be your Loan Officer.
Thank you for your professionalism and quick thorough response in working with my loan. Always very clear. Great experience, thank you!
Thank you for all your hard work. I really appreciate it! Keep up the great work!