Current list of Options: Borrower Info
Bank of America Purchase Loan Analysis
January 20, 2007
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Prepared for:
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John Doe |
Prepared by: |
Jas Grewal |
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8880 Cal Center Dr. #270 |
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Sacramento, CA 95826 |
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Voice: |
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Voice: |
(916) 364-2546 |
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Fax: |
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Fax: |
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Branch Name: |
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Branch Voice: |
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Branch Contact: |
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Branch Fax: |
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Product – 1st Mortgage |
10/30 CONF FIX I/O ACORN -
PNCN |
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Product – Other Financing |
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Purchase Price |
$344,000 |
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Loan To Value / Combined Loan to Value |
100.000 / 100.000 % |
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Loan Amount 1st / 2nd |
$344,000 |
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Term Of Loan 1st / 2nd |
480 Months |
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Balloon Product 1st / 2nd |
No |
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Initial Interest Rate 1st / 2nd |
5.000 % |
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Index 1st |
N/A |
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Margin 1st |
N/A |
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Actual Market Rate Today 1st |
5.000 % |
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Qualifying Interest Rate 1st / 2nd |
5.000 % |
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Maximum 1st Rate Increase/Frequency |
N/A |
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Lifetime Maximum Increase 1st |
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Annual Percentage Rate 1st / 2nd |
5.316 % |
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Origination Points 1st |
0.000 % |
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Discount Points 1st / 2nd |
3.911 % |
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Total Points 1st / 2nd |
3.911 % |
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Principal & Interest 1st |
$1,433.33 |
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Other Financing |
$0.00 |
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Property Tax |
$358.33 |
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Hazard Insurance |
$58.33 |
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Mortgage Insurance |
$0.00 |
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Homeowners Association Dues |
$0.00 |
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Flood Insurance |
$0.00 |
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Assessment |
$0.00 |
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Other Impounds/Escrows |
$0.00 |
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Borrowers Protection Plan 1st / 2nd |
$0.00 |
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Total Housing Payment |
$1,850.00 |
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Origination Fee |
$0.00 |
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Discount Fee
1st / 2nd |
$13,453.84 |
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Appraisal Fee |
$0.00 |
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Credit Report Fee |
$0.00 |
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Tax Service Fee |
$75.00 |
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Application Fee |
$200.00 |
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Processing/Commitment Fee |
$0.00 |
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Flood Certification |
$11.00 |
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Buydown Subsidy |
$0.00 |
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Other Lender’s Fees |
$719.00 |
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Total Lender’s Fees |
$14,458.84 |
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Escrow Settlement Fee |
$1,024.80 |
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Attorney Fee |
$0.00 |
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Lender’s Title Insurance * |
$691.44 |
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Owner’s Title Insurance * |
$0.00 |
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Other Title/Settlement Charges |
$300.00 |
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Recording Fee |
$75.00 |
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Tax Stamps
1st / 2nd |
$0.00 |
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Survey |
$0.00 |
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Pest Inspection |
$0.00 |
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Other Costs |
$0.00 |
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Total Title/Settlement/Other Charges |
$2,091.24 |
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Number Days Interest/Per Diem 1st / 2nd |
20/$47.12 |
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Interest 1st
/ 2nd |
$942.47 |
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Hazard Insurance (1st Year Premium) |
$700.00 |
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Hazard Insurance Reserves ** |
$233.33 |
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Property Tax Reserves ** |
$1,433.33 |
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Mortgage Insurance Reserves ** |
$0.00 |
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Other Prepaids/Reserves ** |
$0.00 |
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Total Prepaids/Reserves |
$3,309.14 |
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Downpayment |
$0.00 |
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Lender Fees |
$14,458.84 |
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Title/Settlement Charges |
$2,091.24 |
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Prepaids/Reserves |
$3,309.14 |
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Total Borrower Costs at Closing |
$19,859.22 |
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Income Qualification Estimates Based On Qualifying
Interest Rate (Other Factors Are Considered in Qualifying)
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Required Monthly Income |
$4,612.06 |
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Maximum Other Debt |
$0.00 |
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Residual Payments (//ResidualMos// Months) |
$3,700.00 |
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Actual/Allowable Housing Ratio |
40.36/45.00 |
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Actual/Allowable Debt Ratio |
40.36/45.00 |
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* Apportion to buyer and seller as customary
to market or as negotiated in purchase offer.
Rates vary by title company.
** The
initial amount you will pay at closing to establish an impound/escrow account,
if required, is estimated. The actual
amount collected at closing will be determined based upon your first payment
due date, a permissible cushion and the scheduled disbursement dates of your
hazard insurance, real estate taxes and other escrowed items. Federal law requires us to use an aggregate
accounting method to determine the amount collected at closing which will
always result in a different amount than the estimate.
*** (If
ARM solution displayed) Rates may
increase.
This is not a commitment to lend. Current policy requires submission of a complete application including supporting documentation. Loan approval is subject to the borrower and the property meeting bank requirements. All information is estimated. Please remember products, terms, rates and fees are subject to change until you complete a loan application and lock your interest rate.
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