|
Estimates are based on a $250,000 purchase price with a mortgage.
|
Common
Disbursements
|
| Lender Appraisal Fee |
|
|
|
|
|
$400.00 |
| Credit Report |
|
|
|
|
45.00 |
| Escrow Reserves |
|
|
|
|
|
400.00 |
| Loan Origination Fee (1% of loan value) |
|
|
2,250.00 |
| Title Policy Endorsements |
|
|
250.00 |
| Escrow Closing Fee |
|
|
|
|
|
250.00 |
| Recording Fees |
|
|
50.00 |
| Lender Fees |
|
|
|
|
|
500.00 |
| Flood Certification Fee |
|
20.00 |
| |
|
|
|
|
|
|
|
|
| |
|
|
|
|
Sub-total |
|
$4,165.00 |
| |
| Other Fees - various
misc. fees |
$500.00 |
| |
|
|
|
|
|
|
|
|
|
| There is also a monthly
PMI/MIP insurance premium, which is added to the mortgage
payment. This premium ranges from .5% of the mortgage
value to .78% depending on the size of down payment. |
|
| |
| Interest Adjustment - Between
the date of possession and the time your first mortgage payment is
due you will be required to pay Interest for the number of days left
in the month of closing. (assume 5 days) |
$200.00 |
| |
| Insurance Cost
- You will have to arrange for property insurance prior to the date
of possession.The annual rate for a basic policy is approximately |
$600.00 |
| |
| Suggested cash on had at time of
closing, excluding down payment - a minimum of ... |
Total
$5,465.00 |
