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Hi guys, Yesterday afternoon, I received a new Itemized Fee Worksheet from my lender after a purchase price negotiation, and I would greatly appreciate your input before I discuss this with my lender file:///C:/DOCUME%7E1/Zied/LOCALS%7E1/Temp/moz-screenshot.png (broken link)Monday morning.
1-When I look at the worksheet I see that in the top tier Estimated Closing Costs, highlighted in yellow for easy reference the total estimated closing costs are $4,109.96. However, in the bottom Transaction Summary tier also highlighted in yellow, the estimated closing costs is now $6,168.66. Shouldn't both amounts be equal ?
2-Looking at the center tier Estimated Reserve/Prepaid Costs, the numbers don't add up. I added up all 900+ and 1000+ and they add up to way over $4,688.18 what is listed as the total estimated reserve/prepaid costs highlighted in red.
In addition to the closing costs, I will be paying $940.57 for repairs which will be placed in an escrow account. I am not sure if that has any bearings on the discrepancies in the numbers.
Nothing jumps out as out of line and if you add the total costs up top (closing and prepaids), they are within $161 below of those two charges in the bottom right corner (Total estimated charges). Not sure why they don't match, but I do see a second trust listed and can only assume there are minor charges (recording and prepaid interest) associated with that loan.
Nothing jumps out as out of line and if you add the total costs up top (closing and prepaids), they are within $161 below of those two charges in the bottom right corner (Total estimated charges). Not sure why they don't match, but I do see a second trust listed and can only assume there are minor charges (recording and prepaid interest) associated with that loan.
By all means, ask.
Thanks SmartMoney, I asked my LO yesterday, She's looking into it and will get back to me later on today. I appreciate your taking the time to crunch the numbers. Thanks a lot
Are you going thru Real Estate Mortgage Network? they just funded my FHA loan in Jan of this yr...
Yes indeed, since this would be off topic, I'm sending you a pm.
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