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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
Starting with only...
580 Credit Scores!!!
| 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: 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.
First let me start off by saying no, I did not get my loan approved (yet). No-fault but my own. However, I highly recommend this company. They are knowledgeable, professional, and courteous to whatever your situation is. They stay in contact with you and clearly explain every step of the process so you never feel like you are in the dark. I would even say they go out of their way to make sure you completely understand everything and are comfortable with all the information being provided to you. Joan and Jorge, you were wonderful and after I get a few hiccups worked out, I will be back to try again. :)
Joan was amazing! After being let down by Chase mortgage company, Joan and his team picked up the pieces and helped me out tremendously! I would recommend going through him for loans instead of a big commercial bank. No matter what time of day; he would answer any questions or reached out to me about any concerns. He is with you and the realtor every step of the way to help get you a home. Very passionate about helping clients get a home! I would like to thank Joan and his team for helping me get my first home! Y'all made the home buying process easy for me! Thank you again. I love my home.
