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

*For detailed Loan Estimate Rates Terms and Conditions advertised here please navigate this page from a desktop version. Thanks.

FHA Texas Rates

SALES PRICE: $295,000
LOAN TERM: 15 years
PRODUCT: Fixed Rate

Loan Terms

Can this amount increase after closing?

Loan Amount

$289,656

NO

Interest Rate

5.750%

NO

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

$2,405.33

NO

Does the loan have these features?

Prepayment Penalty

NO

Balloon Payment

NO

Projected Payments

Payment Calculation

Years 1-15

Years

Payment Calculation

$2,405.33

$__

Mortgage Insurance

 +

202

 +

__

Estimate Escrow
Amount can increase over time

 +

520

 +

__

Estimated Total
Monthly Payment

$3,127.33

$__

Estimated Taxes, Insurance
& Assessments
Amount can increase over time

$520
month

This estimate includes

In escrow?

Property Taxes

YES

Homeowner’s Insurance

YES

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

$18,933

Includes $15,129 in Loan Costs + $3,804 in Other Costs – $0.00 in Lender Credits. See page 2 for details.

 
 

Estimated Cash to Close

$16,326

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

Closing Cost Details

Projected Payments

A. Origination Charges

$6,059

2.100 % of Loan Amount (Points)

$5,884

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

$1,869

Homeowner’s Insurance Premium ( 12 months)

$1,832

Mortgage Insurance Premium ( months)

Prepaid Interest ($35.20/day for 1 days @ 4.375%)

$37

PropertyTaxes ( months)

B. Services You Cannot Shop For

$6,283

Appraisal Fee

$670

Credit Report

$56

Contract Processing Fee

$500

Flood Certification

$6

Tax Service Fee

$69

Up-Front Mortgage Insurance Premium

$4,982

G. Initial Escrow Payment at Closing

$1,560

Homeowner’s Insurance $152.67/month for 3 mo.

$458

Mortgage Insurance per month for 0 mo.

Property Taxes $367.26/month for 3 mo.

$1,102

H. Other

$250

HOA Transfer Fees

$250

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

$3,804

C. Services You Can Shop For

$2,787

Survey Fee

$450

Title - Abstract/Title Search Fee

$100

Title - Lender's Title Insurance

$1,676

Title - Settlement/Escrow Fee

$495

Title - Tax Certificate Fee

$66



J. TOTAL CLOSING COSTS

$18,933

D + I

$18,933

Lender Credits

Calculating Cash to Close

Total Closing Costs (J)

$18,933

Closing Costs Financed (Paid from your Loan Amount)

-$4,982

Down Payment/Funds from Borrower

$10,325

Deposit

-$2,950

Funds for Borrower

$0.00

Seller Credits

-$5,000

Adjustments and Other Credits

$0.00

Estimated Cash to Close

$16,326

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

$15,129

How to get best lowest mortgage interest rates in Houston, Chicago, and Fairfax County...

 

When purchasing a home searching for the best mortgage rates in Fairfax County, Chicago, and 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:

  • Antonia Gonzalez • October 25, 2023

    Thank you so much to the entitire team. I cant thank you enough for helping me find my dearm house and got a loan approved at a better rate than my own bank. Cannot belive it!!! Thanks Again.

  • Jimmy Nuno • February 05, 2014

    Dear Joan,

    Thank you so much for helping us get our very first home. You were very helpful every step of the way. Thank you for your patience, kind manner, and incredible knowledge in getting us approved and into our first home in such little time. I will send anyone I meet wanting to get a home straight to you. You are the very best Joan! Thanks a million.

    Jimmy Nuno & Juany Diaz

  • Zulma Y Carlos • May 14, 2016

    Gracias Sr. Gallardo por realizarnos nuestro sueno de tener nuestra propia casa, por asignarnos un buen realtor, apreciamos todo el tiempo que ud dedico para obtener el mejor de los creditos y el mejor interes para nosotros, pocas personas encontramos como ud. totalmente dedicado y enfocado a darnos el tiempo necesario en cualquier momento y hora, son una mortgage totalmente seria, nosotros lo recomendamos 100% Dios le bendiga siempre.

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