Research in Development of Disclosure Forms

POPLAR BANK

Save this Loan Estimate to compare with your Closing Disclosure.

4321 Random Boulevard • Somecity, ST 12340

Loan Estimate
DATE ISSUED
APPLICANTS

PROPERTY

SALE PRICE

LOAN TERM
PURPOSE
PRODUCT
LOAN TYPE
LOAN ID #
RATE LOCK

11/15/2012
James White and Jane Johnson
123 Anywhere Street, Apt 678
Anytown, AZ 12345
456 Somewhere Avenue
Anytown, AZ 12345
$186,000

7 years
Purchase ce
Fixed Rate Balloon
x Conventional
FHA VA _____________
1234567891330172608
NO x YES, until 01/22/2013 at 5:00 p.m. EST
Before closing, your interest rate, points, and lender credits can
change unless you lock the interest rate. All other estimated
closing costs expire on 12/3/2012 at 5:00 p.m. EST

Loan Terms

Can this amount increase after closing?

Loan Amount

$176,000

NO

Interest Rate

4.625%

NO

Monthly Principal & Interest

$1,038.36

NO

See Projected Payments Below
for Your Total Monthly Payment

Does the loan have these features?
Prepayment Penalty

NO

Balloon Payment

YES

• You will have to pay $154,616 at the end of year 7.

Projected Payments
Payment Calculation

Years 1-7

Principal & Interest

$904.89

Mortgage Insurance

+ 133.47

Estimated Escrow

+ 338

Amount Can Increase Over Time

Estimated Total
Monthly Payment

Final Payment

$1,376.36

Estimated Taxes, Insurance
& Assessments
Amount Can Increase Over Time

$338

a month

$154,616.00

This estimate includes
x Property Taxes
x Homeowner’s Insurance
Other:

In escrow?
YES
YES

See Section G on page 2 for escrowed property costs. You must pay for other
property costs separately.

Cash to Close
Estimated Cash to Close

$15,376

Includes $10,376 in Closing Costs ( $6,853 in Loan Costs + $3,523 in
Other Costs – $0 in Lender Credits). See details on page 2.

Visit www.consumerfinance.gov/learnmore for general information and tools.
LOAN ESTIMATE

PAGE 1 OF 3 • LOAN ID # 123456789

Closing Cost Details
Loan Costs

Other Costs

A. Origination Charges $2,950
% of Loan Amount (Points) $0
Administration Fee $750
Processing Fee $200
Underwriting Fee $1,200
Verification Fee $800

E. Taxes and Other Government Fees $1,540
Recording Fees and Other Taxes
$1,425
Transfer Taxes
$115

B. Services You Cannot Shop For $1,140
Appraisal Fee
$685
Credit Report Fee
$35
Desk Review Fee
$125
Document Preparation Fee
$135
Flood Determination Fee
$50
Tax Status Research Fee
$110

F. Prepaids $1,039
Homeowner’s Insurance Premium ( 6 months)
$700
Mortgage Insurance Premium ( 0 months)
$0
Prepaid Interest ($22.61 per day for 15 days) $339
Property Taxes ( 0 months)
$0

G. Initial Escrow Payment at Closing $944
Homeowner’s Insurance $116.67 per month for 2 mo. $233
Mortgage Insurance
$133.47 per month for 2 mo. $267
Property Taxes
$222.00 per month for 2 mo. $444

H. Other $0

I. TOTAL OTHER COSTS (E + F + G + H)
C. Services You Can Shop For $2,763
Borrower’s Attorney Fee
$400
Pest Inspection Fee
$106
Survey Fee
$215
Title – Lender’s Title Policy
$511
Title – Other Service Fees
$1,531

$3,523

J. TOTAL CLOSING COSTS

$10,376

D + I
Lender Credits

$10,376
– $0

Calculating Cash to Close
Total Closing Costs (J)

$10,376

Closing Costs Financed (Included in Loan Amount)

– $5,000

Down Payment/Funds from Borrower $10,000
Deposit

D. TOTAL LOAN COSTS (A + B + C)

LOAN ESTIMATE

$6,853

– $9,000

Funds for Borrower

$0

Seller Credits

$0

Adjustments and Other Credits

$0

Estimated Cash to Close $15,376

PAGE 2 OF 3 • LOAN ID # 123456789

Additional Information About This Loan
LENDER
NMLS/LICENSE ID
LOAN OFFICER
NMLS ID
EMAIL
PHONE

Poplar Bank
Joe Smith
12345
[email protected]
123-456-7890

Comparisons

MORTGAGE BROKER
NMLS/LICENSE ID
LOAN OFFICER
NMLS ID
EMAIL
PHONE

Pecan Mortgage Broker Inc.
222222
Jane Jones
67890
[email protected]
333-444-5555

Use these measures to compare this loan with other loans.

$70,695 Total you will have paid in principal, interest, mortgage insurance, and loan costs.
$15,261 Principal you will have paid off.

In 5 Years
Annual Percentage Rate (APR)
Total Interest Percentage (TIP)

6.06% Your costs over the loan term expressed as a rate. This is not your interest rate.
30.64%

The total amount of interest that you will pay over the loan term as a
percentage of your loan amount.

Other Considerations
Appraisal

 e may order an appraisal to determine the property’s value and charge you for this
W
appraisal. We will promptly give you a copy of any appraisal, even if your loan does not close.
You can pay for an additional appraisal for your own use at your own cost.

Assumption

If you sell or transfer this property to another person, we
will allow, under certain conditions, this person to assume this loan on the original terms.
x will not allow this person to assume this loan on the original terms.

Homeowner’s
Insurance

This loan requires homeowner’s insurance on the property, which you may obtain from a
company of your choice that we find acceptable.

Late Payment

If your payment is more than 15 days late, we will charge a late fee of 5% of the monthly
principal and interest payment.

Refinance

Refinancing this loan will depend on your future financial situation, the property value, and
market conditions. You may not be able to refinance this loan.

Servicing

We intend
to service your loan. If so, you will make your payments to us.
x to transfer servicing of your loan.

Confirm Receipt
By signing, you are only confirming that you have received this form. You do not have to accept this loan because you have signed or
received this form.

Applicant Signature

LOAN ESTIMATE

Date

Co-Applicant Signature

Date

PAGE 3 OF 3 • LOAN ID #123456789