Option 1 B ENG FIR & BALSAM

FIR BANK

4321 Random Boulevard
Somecity, ST 54321

Loan Estimate

LOAN
AMOUNT

$216,000

LOAN TYPE
PURPOSE
PROGRAM

30 year adjustable rate
Purchase
Conventional

Key Loan Terms
Interest rate

LOAN ID #
LOAN OFFICER
PHONE
EMAIL
NMLS ID#

1330172608
Joe Smith
555-123-4444
[email protected]
01234567

DATE
EXPIRES

05/18/2011
06/02/2011 at 3:00 PM

APPLICANT
PROPERTY

Jane Johnson
456 Avenue A
Anytown, ST 12345

Can key loan terms change after closing?

2.375% to start
YES

• Can go as high as 12% in year 6.
• Adjusts yearly starting in year 3.
• See details on back.

YES

• Can go as high as $2,098.
• Adjusts yearly starting in year 3.

Monthly loan payment

$839.50

Monthly taxes and insurance

$451

Cautions

Can loan features trigger higher or additional payments?

Increasing loan amount

No.
NO

Balloon payment

No.
NO

Prepayment penalty

N
NOo.

Comparisons

Use these additional measures to compare this loan with others.

Annual Percentage Rate

5.95% expresses interest and costs over 30 years.

In 5 Years

$17,688 is the loan amount you have paid off in 5 years after paying $82,155.

Projected Payments

Expect to make these payments.

AT CLOSING

YEARS 1 – 2

YEARS 3 – 8

YEARS 9 – 30

$10,060

$1,291 a month

$1,357 to $2,549

$1,247 to $2,439

+ $24,000

Includes $451
estimated taxes and
insurance.

Estimated total
monthly payment.
Includes $451
estimated taxes
and insurance.

Estimated total
monthly payment.
Includes $341
estimated taxes
and insurance.

Estimated Closing Costs
See details on back.
Down Payment
These amounts will be adjusted
for credits and deposits.

• Estimated. Could increase over time.

YES

a month

For additional information and tools, visit www.consumerfinance.gov/futureurl

a month

Loan Estimate Details

You have no obligation to choose this loan. Shop around to find the best loan for you.

LOAN ID # 1330172608

Estimated Closing Costs
A

Origination Fee.

0 points ($0)
This fee cannot change. Includes ____

B

Required services and costs
you cannot shop for.

Services Required by the Lender
• T hese services include appraisal ($410) and credit report ($10)
provided by lender-related companies: SCR Appraisal and
HBR Credit Inc.
• Total cannot be higher than $1,045 at closing.

C

D

E

Required services you can
shop for. If you choose another
provider, these amounts may
vary.

$1,250

$950

Government Charges

$2,015

Title Services, Lender’s Title Insurance, and Settlement Agent

$2,048

Pest Inspection

$165

Homeowner’s Insurance

$780

Non-required services. You
Owner’s Title Insurance
choose to shop for and purchase
Home Warranty
these services.

$710

Advance charges you pay at
closing.

Escrow and prepaid property taxes and assessments

$633

Escrow for insurance

$720

Prepaid Interest (15 days @ 2.375%, $14.25/day)

$214

A+B+C+D+E

$575

F

Total Closing Costs

G

Credits from Lender or Seller

0

H

Amount of Total Closing Costs to be Financed

0

I

ESTIMATED AMOUNT YOU WILL PAY AT CLOSING (F - G - H)

Is an Escrow Account Required?
x Y
 ES, your monthly payment includes monthly taxes and
insurance.
NO, you must pay your taxes and insurance yourself.
Is Mortgage Insurance Required?
x Y
 ES, this loan requires mortgage insurance.
NO, this loan does not require mortgage insurance.
Will You Make Your Payments to Us?
x YES, we intend to service your loan.
N
 O, we intend to assign, sell, or transfer servicing of
your loan.
Appraisal
We will promptly give you a free copy of any written
property appraisals or valuations. You will receive the copy
even if the loan does not close.

$10,060

$10,060

Important Dates
This estimate expires on 06/02/2011 at 3:00 PM.
After this time, the loan features and closing costs on this
form may not be available.
Adjustable Interest Rate Information
Index Prime
Margin 3%
Lifetime Maximum Rate
12%
Lifetime Minimum Rate
3%
Cap on Interest Rate Changes
At First Change
3%
At Subsequent Changes
3%
Change Frequency
First Change: 2 years from loan date
Subsequent Changes: Every year after first change

BALSAM BANK

4321 Random Boulevard
Somecity, ST 54321

Loan Estimate

LOAN
AMOUNT

$221,000

LOAN TYPE
PURPOSE
PROGRAM

30 year fixed rate
Purchase
Conventional

Key Loan Terms

LOAN ID #
LOAN OFFICER
PHONE
EMAIL
NMLS ID#

1330172608
Joe Smith
555-123-4444
[email protected]
01234567

DATE
EXPIRES

05/18/2011
06/02/2011 at 3:00 PM

APPLICANT
PROPERTY

Jane Johnson
456 Avenue A
Anytown, ST 12345

Can key loan terms change after closing?

Interest rate

5.125%

NO

Monthly loan payment

$1,203.33

NO

Monthly taxes and insurance

$452

YES

Cautions

Can loan features trigger higher or additional payments?

Increasing loan amount

NO

Balloon payment

NO

Prepayment penalty

NO

• Estimated. Could increase over time.

Comparisons

Use these additional measures to compare this loan with others.

Annual Percentage Rate

5.98% expresses interest and costs over 30 years.

In 5 Years

$17,702 is the loan amount you have paid off in 5 years after paying $86,447.

Projected Payments

Expect to make these payments.

AT CLOSING

YEARS 1 – 9

$4,167

$1,655

+ $24,000

Includes $452
estimated taxes and
insurance.

Closing Costs You Pay
See details on back.
Down Payment

YEARS 10 – 30

a month

$1,487

a month

Estimated total monthly payment.
Includes $284 estimated taxes and insurance.

These amounts will be adjusted
for credits and deposits.

For additional information and tools, visit www.consumerfinance.gov/futureurl

Loan Estimate Details

You have no obligation to choose this loan. Shop around to find the best loan for you.

LOAN ID # 1330172608

Estimated Closing Costs
A

Origination Fee.

0 points ($0)
This fee cannot change. Includes _____

B

Required services and costs
you cannot shop for.

Services Required by the Lender
• T hese services include appraisal ($200) and credit report ($15)
provided by lender-related companies: SCR Appraisal and
HBR Credit Inc.
• Total cannot be higher than $743 at closing.

C

D

E

Required services you can
shop for. If you choose another
provider, these amounts may
vary.

$1,750

$675

Government Charges

$2,000

Title Services, Lender’s Title Insurance, and Settlement Agent

$1,672

Pest Inspection

$100

Homeowner’s Insurance

$437

Non-required services. You
Owner’s Title Insurance
choose to shop for and purchase
Home Warranty
these services.

$455

Advance charges you pay
at closing.

Escrow and prepaid property taxes and assessments

$633

Escrow for insurance

$723

Prepaid Interest (15 days @ 5.125%, $31.47/day)

$472

A+B+C+D+E

$250

F

Total Closing Costs

G

Credits from Lender or Seller

H

Amount of Total Closing Costs to be Financed

$5,000

I

ESTIMATED AMOUNT YOU WILL PAY AT CLOSING (F - G - H)

$4,167

Is an Escrow Account Required?
x Y
 ES, your monthly payment includes monthly taxes and
insurance.
NO, you must pay your taxes and insurance yourself.
Is Mortgage Insurance Required?
x Y
 ES, this loan requires mortgage insurance.
NO, this loan does not require mortgage insurance.
Will You Make Your Payments to Us?
x YES, we intend to service your loan.
N
 O, we intend to assign, sell, or transfer servicing of
your loan.
Appraisal
We will promptly give you a free copy of any written
property appraisals or valuations. You will receive the copy
even if the loan does not close.

$9,167
0

Important Dates
This estimate expires on 06/02/2011 at 3:00 PM.
After this time, the loan features and closing costs on this
form may not be available.