First Payment Letter Template printable pdf download

FIRST PAYMENT LETTER

Loan #:

MIN:

DATE:

LOAN NUMBER:

PROPERTY ADDRESS:

In the event that mortgage insurance is required on the above loan, the undersigned agree that

, its successors and assigns, ("Mortgagee") may at any time during the mortgage term and in its discretion apply for renewal of

mortgage guaranty insurance covering the mortgage executed by the undersigned of even date herewith, pay the premiums due by

reason thereof, and require repayment to Mortgagee by the undersigned of such amounts. Failure to do so shall be considered a default

and all provisions of the Note and Mortgage/Deed of Trust/Security Deed/Security Instrument with regard to default shall be

applicable.

The undersigned understands that any maintenance fee due in connection with the above property will not be collected in the

escrow/reserve account. That same will be billed to the undersigned and paid by the undersigned directly to the maintenance

association.

The first regular monthly payment on the above mortgage loan is due on

. Based on the preliminary information

now available for the amount of taxes and insurance, the undersigned understands that the ESTIMATE of the total monthly payment is

as follows:

Principal and Interest

Homeowner's Insurance

Mortgage Insurance

Property Taxes

Other:

TOTAL PAYMENT:

The undersigned further acknowledge that monthly coupons/statements and a supply of self-addressed envelopes will be sent to the

undersigned, and that the amount of monthly payment may differ from the amount shown above, depending upon the latest estimate of

the amount for taxes and insurance.

RECEIVED AND ACKNOWLEDGED:

- BORROWER -

PAYMENT MUST BE SENT TO:

The total estimated monthly escrow account contribution is $118.67 . Itemized escrow account items are displayed rounded to the nearest cent.

7606.74

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First Payment Letter Template