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Lender 1 |
Lender 2 |
| Name
of Lender |
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| Name
of Contact |
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| Date
of Contact |
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|
| Mortgage
Amount |
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|
| Basic
Information on the Loans |
Mortgage 1 |
Mortgage 2 |
Mortgage 1 |
Mortgage 2 |
| Type
of Mortgage: Fixed rate, adjustable rate,
conventional, FHA, other? If adjustable,
see below. |
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|
|
| Minimum
down payment required |
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|
| Loan
term (length of loan) |
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| Contract
interest rate |
|
|
|
|
| Annual
percentage rate (APR) |
|
|
|
|
| Points
(may be called loan discount points) |
|
|
|
|
| Monthly
Private Mortgage Insurance (PMI) premiums |
|
|
|
|
| How
long must you keep PMI? |
|
|
|
|
| Estimated
monthly escrow
for taxes and hazard insurance |
|
|
|
|
Estimated
monthly payment
(Principal, Interest, Taxes, Insurance,
PMI) |
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|
|
Fees
Different institutions may have different
names for some fees and may charge different
fees. We have listed some typical fees you
may see on loan documents. |
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|
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| Application fee or Loan processing fee |
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|
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| Origination fee or Underwriting fee |
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| Lender
fee or Funding fee |
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|
|
| Appraisal
fee |
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|
|
| Attorney
fees |
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| Document
preparation and recording fees |
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|
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| Broker
fees (may be quoted as points, origination
fees, or interest rate add-on) |
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| Credit
report fee |
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| Other
fees |
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| Other
Costs at Closing/Settlement |
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|
|
|
Title
search/Title Insurance
For lender
For you |
|
|
|
|
| Estimate
prepaid amounts for interest, taxes, hazard
insurance, payments to escrow |
|
|
|
|
| State
and local taxes, stamp taxes, transfer taxes |
|
|
|
|
| Flood
determination |
|
|
|
|
| Prepaid
Private Mortgage Insurance (PMI) |
|
|
|
|
| Surveys
and home inspections |
|
|
|
|
| Total
Fees and Other Closing/Settlement Cost Estimates |
|
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|
