ESTIMATED SETTLEMENT / CLOSING COSTS

100 SALE INFORMATION
01 Contract Sales Price $__________
02 Down payment $__________
03 Mortgage Amount (01-02) $__________

800 ITEMS PAYABLE IN CONNECTION WITH THE LOAN
01 Loan Origination Fee (normally 1% of the loan) $__________
02 Loan Discount, Points (normally 2% of the loan) $__________
03 Appraisal Fee (usually $200-$400) $__________
04 Credit Reports (usually $60 per buyer) $__________
08 Other Lender Fees / Misc. (Bank Atty. $300-$600) $__________

900 ITEMS REC'Q BY LENDER TO BE PAID IN ADVANCE
01 Advance Interest (prorated interest for the balance of the month) $__________
02 Mortgage Insurance Premium (FHA premium is 2.0% of the loan, Conventional is normally 1.5% of the loan) this can be financed $__________
03 Hazard Insurance Premium ($400-$750 depending on coverage $__________

1000 RESERVES DEPOSITED WITH LENDER FOR
01 Hazard Insurance (usually 1/4 of annual premium $__________
02 Property Taxes (1/4 of annual property taxes) $__________

1100 TITLE CHARGES
01 Estimated Settlement Charges (approx. $300) $__________
08 Title Insurance (usually .4% of the loan) $__________

1200 GOVERNMENT RECORDING AND TRANSFER CHARGES
01 Deed (approx. .2% of the purchase price) $__________
02 Deed of Trust (approx. .2% of the mortgage) $__________

1300 ADDITIONAL SETTLEMENT CHARGES
01 Survey (approx. $350-$550) $__________
02 Mortgage Tax (1.75 % of the loan-1% NY City and .75% NY State) $__________
03 Your Attorney (negotiable between the 2 parties (usually $650 to $1000) $__________
05 Seller Transfer Tax, Purch must pay on a Foreclsoure / HUD property (1.4% of sales price) $_________
04 Others not listed above / Misc. $__________

1400 TOTAL SETTLEMENT CHARGES $__________

***Closing costs usually are between 6% to 8% of the mortgage amount. These fees, of course, cannot be guaranteed and are dependant on the lending institution used. Fees will vary slightly on every individual transaction.