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| Rick Lorenz, ABR CRS and his team | |
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This closing statement was for a home with an FHA low-down payment loan closing in mid month. |
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Settlement Date: |
9/15/00 |
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Proration Date: |
9/14/00 |
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DEBITS (charges) |
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Purchase Price |
$161,900.00 |
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FHA Appraisal Fee |
$515.00 |
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Credit Report for Bank |
$56.00 |
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Loan Origination Fee for Bank |
$1,572.85 |
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Flood Certificate for Bank |
$22.00 |
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Final Inspection after repairs |
$50.00 |
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Interim Interest For 16 Days |
$527.44 |
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Hazard Insurance Premium 1 Year in advance |
$301.00 |
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FHA Mortgage Insurance. |
$3,145.70 |
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Escrow Hazard Insurance Reserve |
$75.24 |
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Escrow County Tax Reserve |
$185.10 |
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Escrow Aggregate Adjustment |
-$61.62 |
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Title Co.Closing Fee (1/2) |
$100.00 |
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Title Insurance (for bank) |
$145.00 |
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Tax Certificate |
$15.00 |
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FedEx Fee |
$20.00 |
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Loan Closing Fee - Title Co. |
$75.00 |
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Recording Fees |
$45.00 |
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State Tax/Stamps |
$16.19 |
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Gross Amount Due From Buyer |
$168,704.90 |
Note: total Closing costs were $6,804.90 |
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CREDITS |
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Earnest Money Deposit |
$1,000.00 |
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Principal Amount of New Loan |
$160,430.00 |
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Lender Premium |
$802.15 |
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County Taxes 1/1/00 - 9/15/00 370.24/366 days x 258 days = |
$260.99 |
Note: in Colorado we pay property taxes in arrears. That is , in January we get the bill for the previous year. Thus, this credit reflects the seller giving "his share" of the current year taxes to the buyer. |
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Less Total Credits to Buyer |
$161,690.99 |
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BALANCE |
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Gross Amount Due from Buyer |
$168,704.90 |
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Less Total Credits to Buyer |
$161,690.99 |
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AMOUNT DUE FROM BUYER |
$7,013.91 |
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