Loan Estimate Form PDF Details

The Loan Estimate Form is a document that is provided to a borrower by a lender. The document includes important information about the loan, including the interest rate, monthly payment, and total cost of the loan. The Loan Estimate Form also includes information about the fees associated with the loan, as well as terms and conditions. It is important to review the Loan Estimate Form carefully to ensure that you understand all of the information included in it. If you have any questions, be sure to ask your lender for clarification.

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QuestionAnswer
Form NameLoan Estimate Form
Form Length3 pages
Fillable?No
Fillable fields0
Avg. time to fill out45 sec
Other namesloan estimate template, bank loan estimate format, mortgage loan estimate form excel, loan estimate generator

Form Preview Example

FICUS BANK

4321 Random Boulevard • Somecity, ST 12340Save this Loan Estimate to compare with your Closing Disclosure.

Loan estimate

LOAN TeRM

30 years

 

 

PuRPOse

Purchase

DATe IssueD

7/23/2012

PRODuCT

Fixed Rate

APPLICANTs

John A. and Mary B.

LOAN TyPe

x Conventional FHA VA _____________

 

123 Anywhere Street

LOAN ID #

123456789

 

Anytown, ST 12345

RATe LOCK

NO x YES, until 9/21/12 at 5:00 p.m. EDT

PROPeRTy

456 Somewhere Avenue

 

Before closing, your interest rate, points, and lender credits can

 

Anytown, ST 12345

 

change unless you lock the interest rate. All other estimated

sALe PRICe

$180,000

 

closing costs expire on 8/6/12 at 5:00 p.m. EDT

Loan Terms

 

Can this amount increase after closing?

Loan Amount

$162,000

NO

 

 

 

Interest Rate

3.875%

NO

 

 

 

Monthly Principal & Interest

$761.78

NO

See Projected Payments Below

 

 

for Your Total Monthly Payment

 

 

 

 

 

 

 

Does the loan have these features?

Prepayment Penalty

 

 

 

NO

 

 

 

Balloon Payment

 

NO

 

 

 

Projected Payments

Payment Calculation

 

years 1-7

 

 

years 8-30

 

 

 

 

 

 

Principal & Interest

 

$761.78

 

 

$761.78

 

 

 

 

 

Mortgage Insurance

+

82

 

+

 

 

 

 

 

Estimated Escrow

+

206

 

+

206

Amount Can Increase Over Time

 

 

 

 

 

 

 

 

 

 

 

estimated Total

 

$1,050

 

 

$968

Monthly Payment

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

This estimate includes

 

In escrow?

estimated Taxes, Insurance

$206

x Property Taxes

 

yes

x Homeowner’s Insurance

 

yes

& Assessments

 

a month

Other:

 

 

Amount Can Increase Over Time

 

 

 

 

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

$16,054

Includes $8,054 in Closing Costs ( $5,672 in Loan Costs + $2,382 in

 

 

Other Costs – $0 in Lender Credits). See details on page 2.

 

 

 

 

 

 

Visit www.consumerinance.gov/learnmore for general information and tools.

LOAN ESTIMATE

page 1 of 3 • Loan ID # 123456789

Closing Cost Details

Loan Costs

A. Origination Charges

$1,802

.25 % of Loan Amount (Points)

$405

Application Fee

$300

Underwriting Fee

$1,097

Other Costs

e. Taxes and Other Government Fees

$85

Recording Fees and Other Taxes

 

 

$85

Transfer Taxes

 

 

$0

 

 

 

 

 

 

 

 

F. Prepaids

 

 

$867

Homeowner’s Insurance Premium (

6 months)

$605

 

 

 

 

 

 

 

 

Mortgage Insurance Premium ( 0

months)

$0

 

 

 

 

 

 

Prepaid Interest ( $17.44 per day for 15 days @ 3.875%)

$262

Property Taxes ( 0 months)

 

 

$0

 

 

 

 

 

 

 

 

B. services you Cannot shop For

$672

Appraisal Fee

$405

Credit Report Fee

$30

Flood Determination Fee

$20

Flood Monitoring Fee

$32

Tax Monitoring Fee

$75

Tax Status Research Fee

$110

G. Initial escrow Payment at Closing

 

 

$413

Homeowner’s Insurance

$100.83 per month for

23mo. $202

Mortgage Insurance

per month for

0

mo.

 

Property Taxes

$105.30 per month for

2

mo.

$211

H. Other

$1,017

Title – Owner’s Title Policy (optional)

$1,017

C. services you Can shop For

$3,198

Pest Inspection Fee

$135

Survey Fee

$65

Title – Insurance Binder

$700

Title – Lender’s Title Policy

$535

Title – Title Search

$1,261

Title – Settlement Agent Fee

$502

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

$5,672

I. TOTAL OTHeR COsTs (e + F + G + H)

$2,382

 

 

J. TOTAL CLOsING COsTs

$8,054

 

 

D + I

$8,054

Lender Credits

$0

Calculating Cash to Close

 

 

 

Total Closing Costs (J)

$8,054

Closing Costs Financed (Included in Loan Amount)

$0

Down Payment/Funds from Borrower

$18,000

Deposit

– $10,000

Funds for Borrower

$0

Seller Credits

$0

Adjustments and Other Credits

$0

estimated Cash to Close

$16,054

 

 

LOAN ESTIMATE

page 2 of 3 • Loan ID # 123456789

Additional Information About This Loan

LeNDeR NMLs/LICeNse ID

LOAN OFFICeR

NMLs ID

eMAIL

PHONe

Ficus Bank

Joe Smith 12345 joesmith@icusbank.com 123-456-7890

MORTGAGe BROKeR NMLs/LICeNse ID LOAN OFFICeR NMLs ID

eMAIL PHONe

Comparisons

use these measures to compare this loan with other loans.

 

 

 

In 5 years

$56,582

Total you will have paid in principal, interest, mortgage insurance, and loan costs.

$15,773

Principal you will have paid of.

 

 

 

 

Annual Percentage Rate (APR)

4.494%

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

 

 

 

Total Interest Percentage (TIP)

69.447%

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

 

 

percentage of your loan amount.

 

 

 

Other Considerations

Appraisal

We may order an appraisal to determine the property’s value and charge you for this

 

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

This loan requires homeowner’s insurance on the property, which you may obtain from a

Insurance

company of your choice that we ind 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.

Reinance

Reinancing this loan will depend on your future inancial situation, the property value, and

 

market conditions. You may not be able to reinance 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.

Conirm Receipt

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

Applicant Signature

Date

Co-Applicant Signature

Date

LOAN ESTIMATE

page 3 of 3 • Loan ID #123456789

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