Ficus Bank Loan Estimate Sample Page 2
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1
2Loan Estimate Details
You have no obligation to choose this loan. Shop around to find the best loan for you.
1330172608
LoAn ID #
estimated Closing Costs
0
A
origination fee.
This fee cannot change. Includes ____ points ($0)
$2,000
B
required services and costs
Services Required by the Lender
you cannot shop for.
• These services include appraisal ($300) and credit report ($18)
provided by lender-related companies: SCR Appraisal and
HBR Credit Inc.
• Total cannot be higher than $953 at closing.
$866
Government Charges
$2,015
C
required services you can
Title Services, Lender’s Title Insurance, and Settlement Agent
$1,745
shop for. If you choose another
Pest Inspection
$90
provider, these amounts may
vary.
Homeowner’s Insurance
$637
D
non-required services. You
Owner’s Title Insurance
$650
choose to shop for and purchase
Home Warranty
$550
these services.
e
Advance charges you pay at
Escrow and prepaid property taxes and assessments
$633
closing.
Escrow for insurance
$649
Prepaid Interest (15 days @ 2.5%, $15/day)
$225
f
Total Closing Costs
A + B + C + D + e
$10,060
g
Credits from Lender or Seller
0
H
Amount of Total Closing Costs to be Financed
0
I
eSTIMATeD AMoUnT yoU WILL PAy AT CLoSIng (F - G - H)
$10,060
Is an escrow Account required?
Important Dates
x
This estimate expires on 06/02/2011 at 3:00 PM.
YES, your monthly payment includes monthly taxes and
insurance.
After this time, the loan features and closing costs on this
form may not be available.
NO, you must pay your taxes and insurance yourself.
Is Mortgage Insurance required?
Adjustable Interest rate Information
x
YES, this loan requires mortgage insurance.
Index
Prime
Margin
2.5%
NO, this loan does not require mortgage insurance.
Lifetime Maximum Rate
10%
Lifetime Minimum Rate
2.5%
Will you Make your Payments to Us?
Cap on Interest rate Changes
x
YES, we intend to service your loan.
At First Change
3%
At Subsequent Changes
3%
NO, we intend to assign, sell, or transfer servicing of
your loan.
Change frequency
First Change: 2 years from loan date
Subsequent Changes: Every year after first change
Appraisal
We will promptly give you a free copy of any written
property appraisals or valuations. You will receive the copy
even if the loan does not close.
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