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201207 Cfpb Closing-disclosure

201207 Cfpb Closing-disclosure

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Published by Richard Vetstein

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Published by: Richard Vetstein on Jul 11, 2012
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06/19/2014

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Projected PaymentsLoan Terms
Can this amount increase ater closing?Loan Amount
$162,000
NO
Interest Rate
3.875%
NO
Monthly Principal & Interest
See Projected Payments Below or Your Total Monthly Payment 
$761.78 
NO
Does the loan have these eatures?Prepayment Penalty
NO
Balloon Payment
NO
Cash to Close
Cash to Close
$14,272.35
Includes
$9,729.54
in Closing Costs $4,694.05 in Loan Costs +$5,035.49 in Other Costs  $0 in Lender Credits. See details on page 2.
CLOSING DISCLOSURE PAGE 1 OF 5
LOAN ID # 123456789
Payment CalculationYears 17Years 830
Principal & InterestMortgage InsuranceEstimated Escrow
 Amount Can Increase Over Time
$761.78
+
82.35
+
206.13$761.78
+
+
206.13
Estimated TotalMonthly Payment
$1,050.26$967.91
Estimated Taxes, Insurance& Assessments
 Amount Can Increase Over TimeSee Details on Page 4
$356.13
a month
See page 4 or escrowed property costs. You must pay or other property costs separately.
This estimate includesIn escrow?x
Property Taxes
YESx
Homeowner’s Insurance
YESx
Other: Homeowner’s Association
NO
 Transaction Inormation
Borrower
 
John A. and Mary B.
 
123 Anywhere Street
 
Anytown, ST 12345
Seller
Steve C. and Amy D.321 Somewhere Drive
 
Anytown, ST 12345
 
Lender
Ficus Bank 
Loan Inormation
Loan Term
30 years
Purpose
 
Purchase
Product
 
Fixed Rate
Loan Type
 
x
Conventional FHA
 
VA _____________
Loan ID #
 
123456789
MIC #
000654321
Closing Inormation
Date Issued
9/10/2012
Closing Date
9/14/2012
Disbursement Date
9/14/2012
Agent
Epsilon Title Co.
File #
 
12-3456
Property
 
456 Somewhere Ave
 
Anytown, ST 12345
 
Sale Price
 
$180,000
This orm is a statement o fnal loan terms and closing costs. Compare thisdocument with your Loan Estimate.
Closing Disclosure
 
BorrowerPaidSellerPaidPaid byOthers
At ClosingBeore ClosingAt Closing Beore Closing
A. Origination Charges $1,802.00
010.25 % oLoan Amount Points$405.0002Application Fee$300.0003Underwriting Fee$1,097.0004 05 06 07 08 
B. Services Borrower Did Not Shop For $236.55
01Appraisal Fee to John Smith Appraisers Inc.$405.0002Credit Report Fee to Inormation Inc.$29.8003Flood Determination Fee to Ino Co.$20.0004Flood Monitoring Fee to Ino Co.$31.7505Tax Monitoring Fee to Ino Co.$75.0006Tax Status Research Fee to Ino Co.$80.0007 08 09 10 
C. Services Borrower Did Shop For $2,655.50
01Pest Inspection Fee to Pests Co.$120.5002Survey Fee to Surveys Co.$85.0003Title Insurance Binder to Epsilon Title Co.$650.0004Title Lenders Title Insurance to Epsilon Title Co.$500.0005Title Title Search to Epsilon Title Co.$800.0006Title Settlement Agent Fee to Epsilon Title Co.$500.0007 08 
D. TOTAL LOAN COSTS (BorrowerPaid)$4,694.05
Loan Costs Subtotals A + B + C$4,664.25$29.80
Loan Costs
CLOSING DISCLOSURE
PAGE 2 OF 5 •
LOAN ID # 123456789
 J. TOTAL CLOSING COSTS (BorrowerPaid)$9,729.54
Closing Costs Subtotals
 
(D + I)$9,699.74$29.80$2,800.00$750.00$405.00Lender Credits
Closing Cost Details
Other Costs
E. Taxes and Other Government Fees $85.00
01Recording Fees Deed: $40.00 Mortgage: $45.00$85.0002State Transer Tax$950.00
F. Prepaids $2,138.24
01Homeowner’s Insurance Premium  12 mo. to Insurance Co.$1,209.9602Mortgage Insurance Premium mo.03Prepaid Interest $17.44 per day rom 9/14/12 to 10/1/12$296.4804Property Taxes 6 mo. to Any County USA$631.8005 
G. Initial Escrow Payment at Closing $412.25
01Homeowners Insurance $100.83 per month or 2 mo.$201.6602Mortgage Insurance per month or mo.03Property Taxes $105.30 per month or 2 mo.$210.6004 05 06 07 08Aggregate Adjustment0.01
H. Other Costs$2,400.00
01Real Estate Commission to Alpha Real Estate Broker$700.0002Real Estate Commission to Omega Real Estate Broker$700.0003Title Owners Title Insurance to Epsilon Title Co.$1,000.0004HOA Capital Contribution to HOA Acre Inc.$500.0005HOA Dues Oct. 2012 to HOA Acre Inc.$150.0006Home Inspection Fee to Engineers Inc.$750.00$750.0007Home Warranty Fee to XYZ Warranty Inc.$450.0008
I. TOTAL OTHER COSTS (BorrowerPaid)$5,035.49
Other Costs Subtotal E + F + G + H$5,035.49
 
Calculating Cash to Close
 BORROWER’S TRANSACTIONK. Due rom Borrower at Closing $189,784.74
01Sale Price o Property $180,000.0002Sale Price o Any Personal Property Included in Sale03Closing Costs Paid at Closing J $9,699.7404 
Adjustments
05 0607
Adjustments or Items Paid by Seller in Advance
08City/Town Taxes to09County Taxes to10Assessments to11HOA Dues 9/14/12 to 9/30/12 $85.0012 131415
L. Paid Already by or on Behal o Borrower at Closing $175,512.39
01Deposit $10,000.0002Borrower’s Loan Amount $162,000.0003Existing Loans Assumed or Taken Subject to04 05Seller Credit $2,500.00
Other Credits
06Rebate rom Epsilon Title Co. $750.0007 
Adjustments
0809 10 11 
Adjustments or Items Unpaid by Seller
12City/Town Taxes 7/1/12 to 9/14/12 $262.3913County Taxes to14Assessments to15 1617
CALCULATION
 Total Due rom Borrower at Closing K $189,784.74 Total Paid Already by or on Behal o Borrower at Closing L $175,512.39
Cash to Close
 
x
 From
 
To Borrower
 
$14,272.35
SELLER’S TRANSACTIONM. Due to Seller at Closing $180,085.00
01Sale Price o Property $180,000.0002Sale Price o Any Personal Property Included in Sale03 04 05 06 07 08
Adjustments or Items Paid by Seller in Advance
09City/Town Taxes to10County Taxes to11Assessments to12HOA Dues 9/14/12 to 9/30/12 $85.0013141516
N. Due rom Seller at Closing $115,562.39
01Excess Deposit $10,000.0002Closing Costs Paid at Closing J $2,800.0003Existing Loans Assumed or Taken Subject to04Payo o First Mortgage Loan $100,000.0005Payo o Second Mortgage Loan06 07 08Seller Credit $2,500.0009 10111213
Adjustments or Items Unpaid by Seller
14City/Town Taxes 7/1/12 to 9/14/12 $262.3915County Taxes to16Assessments to17 1819
CALCULATION
 Total Due to Seller at Closing M $180,085.00 Total Due rom Seller at Closing N $115,562.39
Cash
 
From
 
x
 To Seller $64,522.61
Summaries o Transactions
CLOSING DISCLOSURE PAGE 3 OF 5
LOAN ID # 123456789
EstimateFinalDid this change?
 Total Closing Costs J$8,054.00$9,729.54
YES
See
Total Loan Costs D
and
Total Other Costs I
Closing Costs Paid Beore Closing$0$29.80
YES
You paid these Closing Costs
beore closing
Closing Costs FinancedIncluded in Loan Amount$0$0
NO
Down Payment/Funds rom Borrower$18,000.00$18,000.00
NO
Deposit$10,000.00$10,000.00
NO
Funds or Borrower
NO
Seller Credits$0$2,500.00
YES
See Seller Credits in
Section L
Adjustments and Other Credits$0$927.39
YES
See details in
Sections K and LCash to Close
$16,054.00$14,272.35
Use this table to see a summary o your transaction.Use this table to see what has changed rom your Loan Estimate.

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