Hello ARMATRON, It was nice talking to you. Here is the cost estimate as promised. I double checked it after we spoke, and the numbers look a little better than discussed. You would need 2400.00 down in this scenario (which is not accounted for on the bottom of the page where closign costs are). 4231.00 should get the loan closed. I will have all of the documents prepared and we can meet on Monday to sign. Also, we will need the sales contract as soon as possible. Maybe you will get one this weekend!!! Thanks, LOAN LADY
- -My address here is XXXX NONAME Rd in case you want to look up directions on line. Then figure out if you want to come here or else we can meet near your job. Thanks!
PURCHASE COST ESTIMATE 12/1/200
Prepared by: For:
LOAN LADY ARMATRON
Product Shelter Source Kennesaw, GA 30144
Terms (Yrs.) 30
Interest Rate 4.500% Estimated Monthly Payment
Loan Amount $157,500 Principal and Interest $798.03
Est. Appraised Value $159,900 Hazard Insurance $34.00
LTV 98.50% Real Estate Taxes $117.00
Est. Annual Hazard Ins. $408 Mortgage Insurance $0.00
Est. Annual Taxes $1,404 $949.03
NEW LOAN AMOUNT $157,500.00
PLUS SECONDARY FINANCING
PLUS EARNEST MONEY PAID $0.00
LESS PURCHASE PRICE -$157,500.00
LESS FEES, CHARGES AND COST % of Loan -$3,729.00
Origination Fee $1,575.00 1.000%
Discount Points $0.00 0.000%
Title Insurance $315.00 0.200%
Georgia Intangible Tax $472.50 0.300%
* Appraisal Fee $275.00
* Credit Report $25.00
Tax Svc Fee $80.00
* Flood Data Cert Fee $12.00
* FNMA DU $28.00
Underwriting Fee $350.00
* Courier Fee $10.00
Title Search $125.00
Attorney Fee $400.00
Recording Fee $55.00
Georgia Loan Fee $6.50
Lender/Seller Paid cost $0.00
LESS RESERVES TO SET UP A NEW ESCROW ACCOUNT -$755.00
Hazard Insurance $170.00 5 mos @ $34.00 /mo
Real Estate Taxes $585.00 5 mos @ $117.00 /mo
Mortgage Insurance $0.00 2 mos @ $0.00 /mo
LESS ITEMS REQUIRED TO BE PAID IN ADVANCE -$97.09
Daily Interim Interest $97.09 5 days @ $19.42 /day
Hazard Insurance $0.00 1 yr
Mortgage Insurance $0.00 1 yr
CREDIT FOR FEES PAID OUTSIDE OF CLOSING (IN ADVANCE) $350.00 *
ESTIMATED FUNDS REQUIRED AT CLOSING -$4,231.09
(Negative number means funds you bring to closing)
(Positive number means funds to you at closing)
Notes: Rate based on a 60 day lock
Rate can not be locked until Application is taken
Not intended as an advertisement to extend credit as defined by Reg Z. Rates and fees shown
may not currently be available and subject to change without notice. This information is not a loan
commitment or application and does not account for all factors considered in a loan application such
as credit history and property appraisal. We will provide you with a mortgage application upon request.
