Buyer's Closing Costs Prepared by: Walter Flood

Date: 4/12/2004

 

 

Prepared for:

Mr and Mrs Buyer

Address:

95-227 Waikalani
Mililani, HI 95789

Telephone #:

 

Closing Date: 6/1

The following data is for estimation purposes only and the accuracy of the figures is not guaranteed.  The actual costs with respect to each transaction will vary depending on the circumstances.

 

Loan Information

Sale Type:

Conventional

Purchase Price

$

210000

Interest Rate

 

5.5%

Loan Period

 

30 Years

Loan Amount (includes VA Funding Fee or Up Front MIP, if not Pre-Paid)

$

189000

Down Payment

$

21000

 

 

 

 

Cash Requirements

Buyer's Title Insurance

$

450.00

 

Processing Fees

$

30.00

VA Funding Fee (if pre-paid)

$

0.00

 

Up Front MIP-FHA (if pre-paid)

$

0.00

Credit Report

$

50.00

 

Loan Origination Fee

$

1890.00

Underwriting Fees

$

0.00

 

Courier/Wire Fee

$

0.00

Flood Certificate

$

40.00

 

Attorney Fees

$

200.00

Buyer Paid Discount Points

$

3118.50

 

Lender Fees

$

250.00

Recording Fees

$

25.00

 

Document Preparation Fees

$

200.00

Appraisal Fee

$

450.00

 

Tax Service Fee

$

75.00

Closing Fees

$

450.00

 

Survey

$

0.00

Well/Water/Septic Inspection

$

0.00

 

Pest Inspection

$

0.00

Miscellaneous Costs:

 

Total  Estimated Closing Costs

$

7392.30

Estimated Pre-Paid Expenses - Escrow

 

 

    Hazard Ins Reserve

$

0.00

 

    Tax Reserve Amount

$

30.00

 

    Pro-Rated Interest

$

854.38

 

    PMI or MIP Escrow Amount (2 months)

$

163.80

 

    PITI Reserve (2 months)

$

2266.24

 

    HOA/Management Co Fees

$

100.00

 

    HOA/Management Co Xfer Fees

$

100.00

 

Total Estimated Escrow Required

$

3514.42

 

Total Closing Costs and Pre-Paid Expenses

 

$

10906.72

Down Payment

 

$

21000.00

Less Allowable Closing Costs Paid by Seller

 

($

0.00)

Estimated Total Cash Required at Closing

 

$

31906.72

Estimated Monthly Cash Required

 

 

Monthly Payment (P & I)

$

1073.12

 

Monthly Property Taxes

$

60.00

 

Monthly Insurance

$

0.00

 

Monthly PMI or MIP

$

81.90

 

Monthly HOA Dues

$

316.00

 

Total Estimated Monthly Payment

$

1531.02

 

Inspections & Optional Expenses (Incurred prior to closing)

 

 

    Appraisal Final Inspection Fee

$

0.00

 

    Radon Inspection

$

0.00

 

    Lead Based Paint Inspection

$

0.00

 

    Home Inspection

$

0.00

 

    Other Inspection (Environmental)

$

0.00

 

    Buyer's Home Warranty Plan

$

0.00

 

Total Estimated Extra Expenses

$

0.00

 

Buyer Signature _________________________________

 

Date ___________

Buyer Signature _________________________________

 

Date ___________