Prepared by: Taylor N. French, Jr.

Date: 3/11/2004
Prepared for: Sample Closing Cost Sheet
Address: Memphis, Tennessee
Closing Date: 5/20/04

The following data is for estimation purposes only and the accuracy of the figures is not guaranteed.  The actual costs with respect to each transaction will vary depending on the circumstances.

Loan Information Sale Type: Conventional
Purchase Price $

150000
Interest Rate 5.375%
Loan Period 30 Years
Loan Amount (includes VA Funding Fee or Up Front MIP, if not Pre-Paid) $ 150,000
 
Cash Requirements
Title Insurance $ 621.50 Shipping Charge $ 30.00
PMI or MIP Reserve $ Appraisal Fee $ 350.00
Transfer Fee (if any) $ 0.00 Loan Origination Fee $ 0.00
Credit Report $ 50.00 VA Funding Fee (if pre-paid) $ 0.00
Photo and Amort. Sched $ 40.00 Doc Prep Fee $ 200.00
Buyer Paid Discount Points $ 0.00 Settlement Fee $ 250.00
Recording Fees $ 50.00 Buyer's Home Warranty Plan $ 0.00
Underwriting Fee $ 200.00 Tax Service Fee $ 75.00
Deed & State Tax $ 727.20 Survey $ 150.00
Pro-Rated County Taxes $ -480.22 Pro-Rated City Taxes $ 624.75
Up Front MIP-FHA (if pre-paid) $ 0.00
Miscellaneous Costs:
Cost's Pd by Seller (eg) $-2900

Total  Estimated Closing Costs

$

-11.77
Estimated Pre-Paid Expenses (ESCROW)
    Tax Reserve Amount $ 1219.00
    Homeowner Insurance (14 mo reserve) $ 1283.33
    Pre-Paid Interest $ 265.07

Total Estimated Pre-Paid Expenses

$

2767.40

Total Closing Costs and Pre-Paid Expenses

 $ 2755.63

Down Payment

 $

0.00

Less Allowable Closing Costs Paid by Seller

 ($ 0.00)

Estimated Total Cash Required

 $ 2755.63
Estimated Monthly Cash Required
Monthly Payment (P & I) $ 839.96
Assumable Monthly Payment (P & I) $ 0.00
Monthly Property Taxes $ 189.17
Monthly Insurance (using 1100/yr) $ 91.67
Monthly PMI or MIP $
Monthly HOA Dues $
Total Estimated Monthly Payment $ 1120.79

** 2 months of PITI cash reserves are required after closing **

To give you an idea of the outlay, please refer to the amortization schedule below.

Also, at Match Day, a couple of excellent representatives will be available to answer mortgage questions and provide details on various programs.  This is a fairly simple and straightforward loan scenario.  They have 100s of options and can advise you about the best ones for your particular situation, including 100% and zero cash requirement to buy.

Amortization Schedule

Prepared by: Taylor French

Date: 3/11/2004

Payment=$839.96, Borrow=150000, Rate=5.375, Years=30, Fixed Rate
Year Month Payment Principal Interest Balance
2003 Totals 10079.52 2067.46 8012.06 147932.54
2004 Totals 10079.52 2181.36 7898.16 145751.18
2005 Totals 10079.52 2301.54 7777.98 143449.63
2006 Totals 10079.52 2428.35 7651.17 141021.28
2007 Totals 10079.52 2562.13 7517.39 138459.15
2008 Totals 10079.52 2703.29 7376.23 135755.86
2009 Totals 10079.52 2852.23 7227.29 132903.63
2010 Totals 10079.52 3009.37 7070.15 129894.26
2011 Totals 10079.52 3175.17 6904.35 126719.09
2012 Totals 10079.52 3350.10 6729.42 123368.99
2013 Totals 10079.52 3534.67 6544.85 119834.32
2014 Totals 10079.52 3729.41 6350.11 116104.91
2015 Totals 10079.52 3934.88 6144.64 112170.03
2016 Totals 10079.52 4151.67 5927.85 108018.36
2017 Totals 10079.52 4380.40 5699.12 103637.96
2018 Totals 10079.52 4621.74 5457.78 99016.22
2019 Totals 10079.52 4876.37 5203.15 94139.86
2020 Totals 10079.52 5145.03 4934.49 88994.83
2021 Totals 10079.52 5428.49 4651.03 83566.35
2022 Totals 10079.52 5727.56 4351.96 77838.78
2023 Totals 10079.52 6043.12 4036.40 71795.67
2024 Totals 10079.52 6376.06 3703.46 65419.61
2025 Totals 10079.52 6727.34 3352.18 58692.26
2026 Totals 10079.52 7097.98 2981.54 51594.28
2027 Totals 10079.52 7489.04 2590.48 44105.25
2028 Totals 10079.52 7901.64 2177.88 36203.61
2029 Totals 10079.52 8336.97 1742.55 27866.64
2030 Totals 10079.52 8796.29 1283.23 19070.35
2031 Totals 10079.52 9280.91 798.61 9789.43
2032 Totals 10079.52 9792.24 287.28 -2.80

Information is believed to be accurate but is not guaranteed.