FEES AND CLOSING COSTS
NAME OF OWNER OR PURCHASER
_________________________ DATE __________
ADDRESS OF
PROPERTY ________________________________________________
VALUE $ ___________ LOAN AMOUNT $ _________ DOWN PAYMENT $
_________
TYPE LOAN _______ TERM _______ PHONE
____________ (W) ___________ (H) |
|
Traditional Closing Costs |
Prepaid Costs to the Buyer
|
| 1. |
Appraisal Fee Paid at
Application |
$325 |
1-Year Hazard
Insurance
(Policy must be obtained prior to closing)
|
_____ |
| 2. |
Credit Report Paid at application
|
20 |
____ Months hazard insur.
escrow
____ Months RE tax escrow |
_____
_____ |
| 3. |
Loan origination fee (1% of loan)
|
_____ |
____ Mortgage insurance escrow
|
_____ |
| 4. |
Mortgage Insurance |
_____ |
____ Days of interest |
_____ |
| 5. |
Closing fee (Title Co.)
|
250 |
Total estimated prepaid costs
|
_____ |
| 6. |
Lenders title
($1.50/$1,000
based on reissue rate)
($2.50/$1,000 new rate) |
_____ |
TOTAL EXPENSE TO PURCHASE
|
_____ |
| 7. |
Recording fees
Conservation
fee |
60
5 |
1) Down payment |
_____ |
| 8. |
Martgage registration
tax
($2.30/$1,000) |
_____ |
2) Traditional Closing Costs
|
_____ |
| 9. |
Assessment search |
30 |
3) Prepaid costs |
_____ |
| 10. |
Plat drawing (survey) |
60 |
FEES PAID BY DIVERSIFIED
MTG. |
_____ |
| 11. |
Underwriting document
preparation,flood certification, R.E. tax service, & FedEx
|
515.50 |
GRAND TOTAL |
_____ |
| 12. |
Title examination & service
charge |
125 |
ESTIMATED MONTHLY PAYMENT
|
_____ |
| 13. |
Tract search |
125 |
Principal &
Interest
@ _____ % _____ yrs. _____ |
| 14. |
Name search |
25 |
Private Mortgage Ins. |
_____ |
| 15. |
Owners title
insurance
($3.50/$1,000 new rate)
($2.10/$1,000 reissue
rate) |
_____ |
Association fee
(If
applicable-Townhouse stc.) |
_____ |
| 16. |
Attorney fees
(15 & 16 are
optional) |
_____ |
Real Estate Tax Escrow |
_____ |
| 17. |
Processing
TOTAL
ESTIMATED
DISCOUNT POINTS |
50
_____
_____
|
Hazard Insurance
Escrow
TOTAL ESTIMATED PAYMENT |
_____
_____ |
NOTE: If applicant desires to lock
the rate, a lock-in fee of $200.00 is due at the time of
application. If the loan does not close due to circumstances
within the control of the applicant, the fee is
non-refundable. The fee for the appraisal and credit repart is
due at the time of application and is non-refundable.
This statement of current loan terms and conditions is
not an offer to enter into an interest rate or discount point
agreement any such offer may be made only pursuant to
subdivision 3 & 4 of Minnisota statutes 47.206.
Quotes are subject to change without notice.
|
