Purchase Price 150K
Total Amount 147,283 (I have an email into my LO, I don't know why this number is this way. I was told I needed 3.5% down for FHA and am planning to put at minimum between 5-7K down.)
Interest rate 5%
801 Loan Orig Fee 1% 1447.50
802 Loan Discount 1% 1472.83
803 Appraisal Fee $350
804 Credit Report $9.45
809 Tax Related Svc Fee $105
810 Processing Fee $450
811 Underwriting fee $270
812 Wire Transfer fee $35
813 Flood Cert (life of Loan $11)
814 Closing fee $175
815 Doc Prep $75
1100 Title Charges
1101 Closing/Escrow Fee $300
1108 Title Ins. $700
1109 Title Endorsements $150
1110 Title Courier $30
1201 Recording fees $35
1300 Pest Inspection $70
900 Items required to be paid in advance
901 Interest for 15 days @ 20.1758 per day. $302.64
902 Mtg. Ins Prem. 2533.13
903 Hazard Ins Prem. 600
1000 deposited with Lender
1001 Hazard Ins. Premium 3 mts at $50 mth $150
1002 Mort. Premium Reserves $68.35 a month (No idea how much yet, not marked.)
1004 Taxes and assessment reserves 3 mths at $100 month
Estimated prepaid items/reserves 3885.77
Total Estimated Settlement Charges 9571.55 (isn't this high?)
Total Estimated Funds needed to Close
Purchase Price 150,000
Est. Prepaid Items/Reserves 1352.64
Est Closing Costs 4212.95
PMI, MIP, Funding Fee 2533.13
Discount, Borrower Paid 1472.83
Loan Amt 147,283
CC paid by seller 7038.42
Total Estimated Funds needed to close 5250.13
This is a bit different than I remember, but I haven't had a home since 2003. I just want to try to get everything in line now even though I'm not closing till July to make sure I can afford it or see if I have to scale back.
Thanks!
Karen
