Hello I just got pre approved for a mortgage, Im going to be using the VA Loan through USAA. Please share your thoughts with me. I want to put 0 down. Now I am sure I could have been pre approved for more but I had to pick a amount which i thought was strange, I figured they would give me the most allowed for my credit history and income. Regardless I only expect to spend right around this. I thought I would be able to lock in for 60 days so I can have this interest rate but I was wrong, I was informed I must have the contract, I am in the only begining stages and was just scared of seeing a interest rate sky rocket. I am new to this all so please don't jump down my throat.. Anyhow, thank for the feedback!
-Chris
30-Year Fixed Rate VA
Monthly Payment of $1,073.64
Estimated Monthly Payment
$1,073.64
Principal and Interest
$898.84
Property Taxes
$126.67
Homeowners Insurance
$48.13
Tax and insurance escrows cannot be waived for this loan.
Estimation Details for 30-Year Fixed Rate VA Monthly Payment of $1,073.64
Interest Rate
3.750%
A
nnual
P
ercentage
R
ate
(Opens Pop-up Layer)
4.006%
Loan Amount
$194,085
Points
(Opens Pop-up Layer)
/Cost
0.500 / $970
Settlement Costs
(Opens Pop-up Layer)
$9,251.81
Minimum Down Payment
$0.00
Third-Party Fees
(Opens Pop-up Layer)
$1,475.00
Lender Fees
(Opens Pop-up Layer)
$2,075.98
VA Funding Fee
(Opens Pop-up Layer)
$4,085.00
Prepaids and Escrow
(Opens Pop-up Layer)
$1,615.83
Cash Due at Closing
(Opens Pop-up Layer)
$5,116.81
