Do these Loan Details look right for FHA?
Hi BP!
JC again, thank you all for the help so far.
ANYWAYS here is the scoop, should I trust this Lender?
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LOAN DETAILS AND MONTHLY PAYMENT OVERVIEW |
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LOAN DETAILS |
MONTHLY PAYMENT ESTIMATE |
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Sales Price: (leave blank for refinance!) |
$420,000 |
Principal and Interest: |
$2,028.72 |
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Down Payment (percentage) (leave blank for refinance!) |
3.500% |
Taxes ESTIMATED AT: |
$420.00 |
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Refinance Loan Amt (without UFMIP / Funding Fee): |
Hazard Insurance ESTIMATED AT: |
$100.00 |
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Loan Amt (without UFMIP / Funding Fee): |
$405,300 |
PMI/FHA Mortgage Insurance: |
$455.96 |
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UFMIP / Funding Fee PERCENTAGE: |
1.750% |
MI Factor |
1.350% |
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UFMIP / Funding Fee DOLLAR AMOUNT: |
$7,092.75 |
HOA Dues |
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Total Loan Amt (with UFMIP / Funding Fee): |
$412,393 |
2nd Mortgage Principal and Interest |
$0.00 |
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Interest Rate: |
4.250% |
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Loan Term (in months): |
360 |
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Value: |
$420,000 |
TOTAL MONTHLY PAYMENT ESTIMATE: |
$3,004.69 |
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Loan to Value: |
96.50% |
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Estimated Payoff |
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ESTIMATED FEES |
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ESTIMATED LOAN COSTS--BUYER |
ESTIMATED PREPAID & ESCROW COSTS--BUYER (SEE NOTES BELOW) |
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ORIGINATION FEE |
0.000% |
$0.00 |
Per Diem Interest on New Loan |
ASSUME |
$48.02 |
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LOAN DISCOUNT |
0.000% |
$0.00 |
(from the day of funding through month end). Amount will change depending on the actual close date. |
@ |
5 |
DAYS |
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APPRAISAL (estimated) |
$650.00 |
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CREDIT REPORT |
$21.00 |
ESTIMATED PER DIEM INTEREST: |
240.09 |
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ADMINISTRATION FEE |
$995.00 |
Mortgage Insurance Premium |
$1,200.00 |
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PROCESSING FEE |
Hazard Insurance Premium |
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DOCUMENT PREP FEE |
(First year, estimated. The homeowner's insurance agent is your choice) |
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POSSIBLE APPRAISAL REVIEW |
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OTHER: |
OTHER: |
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OTHER: |
OTHER: |
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TOTAL ESTIMATED LOAN COSTS: |
$1,666.00 |
TOTAL ESTIMATED PREPAIDS: |
$1,440.09 |
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TITLE/ESCROW ESTIMATED FEES: |
FOR IMPOUNDS ("ESTIMATED NET FIGURE TO BE COLLECTED"): |
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SETTLEMENT/CLOSING |
$2,000.00 |
HAZARD INSURANCE |
3 |
months @ |
$100.00 |
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TITLE INSURANCE (REISSUE FEE) |
$800.00 |
= |
$300.00 |
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TITLE CO. ENDORSEMENTS |
$100.00 |
MORTGAGE INSURANCE |
months @ |
$455.96 |
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RECORDING/FILING FEE |
= |
$0.00 |
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TITLE CO COURIER |
REAL ESTATE TAXES |
6 |
months @ |
$420.00 |
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TITLE CO DOC PREP/DOC FEE |
= |
$2,520.00 |
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WIRE FEE |
FLOOD INSURANCE |
months @ |
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NOTARY FEE |
$200.00 |
= |
$0.00 |
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TRANSFER TAX |
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OTHER: |
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OTHER: |
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OTHER: |
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TOTAL ESTIMATED TITLE/ESCROW FEES: |
$3,100.00 |
TOTAL ESTIMATED IMPOUNDS: |
$2,820.00 |