SALES PRICE: | $464,900 |
LOAN TERM: | 30 years |
PRODUCT: | Fixed Rate |
Loan Terms |
Can this amount increase after closing? |
|
Loan Amount |
$475,592 |
NO |
Interest Rate |
5.750% |
NO |
Monthly Principal & Interest |
$2,775.43 |
NO |
Does the loan have these features? |
||
Prepayment Penalty |
NO
|
|
Balloon Payment |
NO |
Projected Payments |
|||||||||||||
Payment Calculation |
Years 1-30 |
||||||||||||
Payment Calculation |
$2,775.43 |
$ |
|||||||||||
Mortgage Insurance |
+ __ |
+ __ |
|||||||||||
Estimate Escrow |
+ $832.00 |
+ __ |
|||||||||||
Estimated Total |
$3,607.43 |
$ |
|||||||||||
Estimated Taxes, Insurance |
|
Costs at Closing |
||
Estimated Closing Costs |
$28,846 |
Includes $23,794 in Loan Costs + $5,052 in Other Costs – $0.00 in Lender Credits. See page 2 for details. |
Estimated Cash to Close |
$7,504 |
Includes Closing Costs. See Calculating Cash to Close on page 2 for details. |
Projected Payments |
||
A. Origination Charges |
$7,834.97 |
|
1.1186 % of Loan Amount (Discount Points) |
$5,319.97 |
|
Loan Origination |
$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 |
$2,256 |
|
Homeowner’s Insurance Premium ( 12 months) |
$2,185 |
|
Mortgage Insurance Premium ( months) |
||
Prepaid Interest ($75.96 / day for 1 days @ 5.750%) |
$75.96 |
|
PropertyTaxes ( months) |
B. Services You Cannot Shop For |
$11,994 |
|
Appraisal Fee |
$670 |
|
Contract Processing Fee |
$500 |
|
Credit Report |
$56 |
|
Flood Certification Fee |
$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 3 mo. |
$1,950 |
|
H. Other |
$175 |
|
HOA Transfer Fees |
$175 |
|
I. TOTAL OTHER COSTS(E+F+G+H) |
$5,052 |
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 |
$28,846.97 |
|
D + I |
$28,846.97 |
|
Lender Credits |
Calculating Cash to Close |
||
Total Closing Costs (J) |
$28,846 |
|
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 |
$7,504 |
D. TOTAL LOAN COSTS (A + B + C) |
$23,794.97 |
Thanks Joan for you amazing work with our home loan. I still can’t believe I purchased a house for $174,000 and went to closing with $769 besides my $1000 earnest money deposit. I submitted an application online on 10/5/2016 after I read online about VA Programs Clear Lending offered. Next day Joan Gallardo called me and after his applications dept. completed an Pre-Approval, he told me from the start not to worry that he would be able to take care of me. And boy he did! He even negotiated on behalf of my agent with listing agent getting me a large seller contribution. This guy is very knowledgeable and I truly recommend him. Joan my wife and I cannot thank you enough all hard work you have done and no need to say I will refer you my friends. Actually I already sent you my boss. Take good care of Jorge! Thanks Joan.
Joan Gallardo and his team have been great help in the home buying process. They go above and beyond to ensure all questions are answered and all due dates are met. I would highly recommend clear lending to any future home buyer.
Great experience with this lender! Friendly and professional. They were always quick with responses to my questions and concerns. I would recommend them in a heartbeat. Everything went smoothly. Not only did they respond to all emails but constantly called me keeping me up to date. Thank you Joan.