Current list of Options: Borrower Info

Bank of America Purchase Loan Analysis

 

January 20, 2007

 

Prepared for: 

John Doe

Prepared by: 

Jas Grewal

 

 

 

8880 Cal Center Dr. #270

 

, 

 

Sacramento, CA 95826

Voice: 

 

Voice: 

(916) 364-2546

Fax: 

 

Fax: 

 

Branch Name:

 

Branch Voice:

 

Branch Contact:

 

Branch Fax:

 

 

Product – 1st Mortgage

10/30 CONF FIX I/O ACORN - PNCN

 

 

 

Product – Other Financing

 

 

 

 

Purchase Price

$344,000

 

 

 

Loan To Value / Combined Loan to Value

100.000 / 100.000 %

 

 

 

Loan Amount 1st / 2nd

$344,000

 

 

 

Term Of Loan 1st / 2nd

480 Months

 

 

 

Balloon Product 1st / 2nd

No

 

 

 

Initial Interest Rate 1st / 2nd

5.000 %

 

 

 

Index 1st

N/A

 

 

 

Margin 1st

N/A

 

 

 

Actual Market Rate Today 1st

5.000 %

 

 

 

Qualifying Interest Rate   1st / 2nd

5.000 %

 

 

 

Maximum 1st Rate Increase/Frequency

N/A  

 

 

 

Lifetime Maximum Increase 1st

 

 

 

 

Annual Percentage Rate 1st / 2nd

5.316 %

 

 

 

Origination Points 1st

0.000 %

 

 

 

Discount Points 1st / 2nd

3.911 %

 

 

 

Total Points 1st / 2nd

3.911 %

 

 

 

 

Principal & Interest 1st

$1,433.33

 

 

 

Other Financing

$0.00

 

 

 

Property Tax

$358.33

 

 

 

Hazard Insurance

$58.33

 

 

 

Mortgage Insurance

$0.00

 

 

 

Homeowners Association Dues

$0.00

 

 

 

Flood Insurance

$0.00

 

 

 

Assessment

$0.00

 

 

 

Other Impounds/Escrows

$0.00

 

 

 

Borrowers Protection Plan 1st / 2nd

$0.00

 

 

 

Total Housing Payment

$1,850.00

 

 

 

 

Origination Fee

$0.00

 

 

 

Discount Fee  1st / 2nd

$13,453.84

 

 

 

Appraisal Fee

$0.00

 

 

 

Credit Report Fee

$0.00

 

 

 

Tax Service Fee

$75.00

 

 

 

Application Fee

$200.00

 

 

 

Processing/Commitment Fee

$0.00

 

 

 

Flood Certification

$11.00

 

 

 

Buydown Subsidy

$0.00

 

 

 

Other Lender’s Fees

$719.00

 

 

 

Total Lender’s Fees

$14,458.84

 

 

 

 

Escrow Settlement Fee

$1,024.80

 

 

 

Attorney Fee

$0.00

 

 

 

Lender’s Title Insurance *

$691.44

 

 

 

Owner’s Title Insurance *

$0.00

 

 

 

Other Title/Settlement Charges

$300.00

 

 

 

Recording Fee

$75.00

 

 

 

Tax Stamps  1st / 2nd

$0.00

 

 

 

Survey

$0.00

 

 

 

Pest Inspection

$0.00

 

 

 

Other Costs

$0.00

 

 

 

Total Title/Settlement/Other Charges

$2,091.24

 

 

 

 

Number Days Interest/Per Diem 1st / 2nd

20/$47.12

 

 

 

Interest  1st / 2nd

$942.47

 

 

 

Hazard Insurance (1st Year Premium)

$700.00

 

 

 

Hazard Insurance Reserves **

$233.33

 

 

 

Property Tax Reserves **

$1,433.33

 

 

 

Mortgage Insurance Reserves **

$0.00

 

 

 

Other Prepaids/Reserves **

$0.00

 

 

 

Total Prepaids/Reserves

$3,309.14

 

 

 

 

Downpayment

$0.00

 

 

 

Lender Fees

$14,458.84

 

 

 

Title/Settlement Charges

$2,091.24

 

 

 

Prepaids/Reserves

$3,309.14

 

 

 

Total Borrower Costs at Closing

$19,859.22

 

 

 

 

Income Qualification Estimates Based On Qualifying Interest Rate (Other Factors Are Considered in Qualifying)

Required Monthly Income

$4,612.06

 

 

 

Maximum Other Debt

$0.00

 

 

 

Residual Payments (//ResidualMos// Months)

$3,700.00

 

 

 

Actual/Allowable Housing Ratio

40.36/45.00

 

 

 

Actual/Allowable Debt Ratio

40.36/45.00

 

 

 

 

*   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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