real estate homework

Closing Disclosure Page 1 of 5 Closing Date June 8 Loan Term 30 years Property Address 123 Roadrunner Place Purpose Purchase Sales Price 150,000.00 Product Fixed Rate Loan Terms Can This Amount Increase? Loan Amount 112,500.00 No Interest Rate 5.875% No Monthly Principal & Interest 665.48 No Does this Loan Have a Prepayment Penalty No Balloon Payment No Costs at Closing Closing Costs 8,124.41 Cash to Close 42,942.56 Closing Cost Detail Page 2 of 5 Borrower-Paid At Closing Seller-Paid At Closing Loan Costs A. Origination Charges Loan Points (1%) 1,125.00 Application Fee Underwriting Fee (1%) 1,125.00 B. Services Borrower Did Not Shop For 01 Appraisal Fee 450.00 02 Credit Report 55.00 C. Services Borrower Did Shop For 01 Pest Inspection Fee 02 Survey Fee 03 Lender Title Insurance (112,500) 100.00 05 Settlement Agent Fee 385.00 385.00 07 Attorney Fees 225.00 100.00 D. Total Loan Costs 3,465.00 485.00 Other Costs E. Taxes and Other Government Fees 01 Recording Fees Deed: $34 Mortgage $32 Release $30 96.00 30.00 03 State of Texas Policy Guarentee Fee 3.00 3.00 04 Tax Certificates 44.00 F. Prepaids 01 Homeowner's Insurance Premium (12 mo.) 960.00 02 Mortgage Insurance Premium 03 Prepaid Interest Jun 8-Jun30 @18.36 per day 422.28 04 Property Taxes G. Initial Escrow Payments at Closing 01 Homeowner's Insurance (3 Months) 240.00 02 Mortgage Insurance 03 Property Taxes (9 Months) 2,895.63 H. Other 05 Real Estate Commision 9,000.00 07 Owners Title Insurance 150 ,000 1,152.00 09 Courier Fees 30.00 30.00 10 Copies 12.50 12.50 I. Total Costs Other Costs Subtotal 4,659.41 10,271.50 J. Total Closing Costs 8,124.41 10,756.50 Calculating Costs to Close Page 3 of 5 Summary of Transactions Use this Table to see a summary of your transactions Borrower's Transaction 158,124.41 Seller's Transaction 150,000.00 K. Due from Borrower at Closing M. Due to Seller at Closing 01 Sale Price of Property 150,000.00 Sale Price of Property 150,000.00 02 Sale Price of Any PersonProperty Included in Sale 03 Closing Costs Paid at Closing (J) 8,124.41 L. Paid Already by or on Behalf of Borrower at Closing 115,181.85 N. Due from Seller at Closing 115,949.23 01 Deposit 1,000.00 02 Loan Amount 112,500.00 02 Closing Costs Paid at Closing 10,756.50 04 Payoff of First Mortgage Loan 103,510.88 Adjustments for Items Unpaid by Seller Adjustments for Items Unpaid by Seller Property Taxes 1/1 - 6/8 1,681.85 Property Taxes 1/1 - 6/8 1681.85 Calculation Calculation Total Due from Buyer at Closing (K) 158,124.41 Total Due to Seller at Closing (M) 150,000.00 Total Paid Alread by Buyer at Closing (L) -115,181.85 Total Due from Seller at Closing (N) -115,949.23 Cash to Close From Borrower 42,942.56 Cash to Seller 34,050.77