Estimated Monthly Payment
$2,818
Principal, Interest & Insurance
💰 Seller Contribution
$7,500
Applied toward closing costs
Cash to Close
$4,805
Total funds needed at closing (after seller credit)
Monthly Payment Breakdown
Principal & Interest
$2,567
Homeowners Insurance (0.75%)
$251
Total Monthly Payment
$2,818
📋 Loan Details
Purchase Price
$401,000
Down Payment
$0 (0%)
Loan Amount
$401,000
Interest Rate
6.0%
Origination Costs/Points
$3,750
Seller Contribution
$7,500
Annual Insurance
$3,008 (0.75%)
Lender Origination Fees
| Loan Origination Fee |
$1,195 |
| Origination Costs/Points |
$3,750 |
| Total Lender Origination Fees |
$4,945 |
Services Borrower Cannot Shop
| Appraisal Fee |
$650 |
| Attorney Doc Prep Fee |
$100 |
| Credit Report Fee (POC) |
$140 |
| Final Inspection |
$250 |
| Flood Certification |
$20 |
| Tax Service |
$85 |
| Third Party Processing Fee |
$895 |
| Total Services Cannot Shop |
$2,000 |
Services Borrower Can Shop For
| Title - Title Search |
$75 |
| Title - Closing Protection Letter |
$75 |
| Title - Courier Fee |
$50 |
| Title - Endorsement Fee |
$250 |
| Title - Insurance Binder |
$150 |
| Title - Premium for Lenders Coverage |
$50 |
| Title - Settlement Fee |
$500 |
| Title - Wire Transfer Fee |
$75 |
| Total Services Can Shop |
$1,225 |
Taxes and Other Government Fees
| Recording Fee For Deed |
$175 |
| Transfer Taxes / Tax Stamp For County Deed |
$60 |
| Total Government Fees |
$235 |
Prepaids
| Hazard Insurance ($251 x 12 months) |
$3,008 |
| Total Prepaids |
$3,008 |
Initial Escrow Payment at Closing
| Hazard Insurance ($251 x 3 months) |
$752 |
| Total Initial Escrow |
$752 |
💵 Cash to Close Summary
| Earnest Money Deposit (1%) |
$4,010 |
| Estimated Closing Costs |
$8,405 |
| Estimated Prepaid Items |
$3,760 |
| Borrower Paid Fees (POC) |
$140 |
| Less: Seller Contribution |
-$7,500 |
| Less: Earnest Money Deposit |
-$4,010 |
| TOTAL CASH TO CLOSE |
$4,805 |
