Free Savings Analysis

• Loan Amount: $200,000
• Payoff Loan Amount: $196,000
• Property Value: $215,000
• Original FHA Loan Amount: $205,000 and less than 3 years old.
• APR Fees: Financed FHA MIP of $3,000, normal financed FHA costs
• Loan Term: 30 year Fixed, No Prepayment Penalty
• Loan Program: FHA
• Loan Purpose: Refinance
• Rate Lock: 30 Days
• Loan Closing: Last day of the month, zero prepaid interest.
• Property Type: Owner Occupied
• Property State: California

Borrower paid costs:

• Current Mortgage Payment deposited in escrow at closing, as FHA requires payment of full 30 days of interest on all loans.
• All required Impound Account Reserves such as:
  • 12 months Hazard Insurance.
  • Property Tax Reserves up to 10 months, depending on closing month.
  • Up to 30 days of prepaid interest for new mortgage.

• All normal loan costs including 1% origination fee and title insurance  financed into original loan amount not to exceed original loan balance.Please Note: Borrower will receive a refund of current impound account from current lender that will be paid off.

APR on quoted loan:

• 6.251%

If loan amount is smaller, interest rate may increase. Mortgage rates subject to change without notice.

This information provided:

Bankerswest Funding
17870 Castleton St, Suite 345
City of Industry, CA 91748
800-931-7377 Office
800-931-7375 Fax

Equal Opportunity Lender.

Free Savings Analysis

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