Quick Calculation for Conventional

Closing Cost is estimate of $3150 PLUS 1% of loan (i.e., if loan amount is $100,000 the total estimated closing cost would be $4150). PLUS

· Prepaids should be calculated at 2% of sales price (i.e, $100,000 would be $2000) unless the sales price is over $300,000 then use 1.5%. PLUS

Down payment is based on loan type and preference (line 3A of contract). Minimum of 3% down (Restrictions apply)
There is no Upfront MI or Funding Fee. PMI is paid until 20% equity (unless paid upfront as a one time cost)

· Conforming up to $417,000 (Jumbo over $417,000)

· Risked based pricing depending on credit score and down payment.

Typically, the seller is allowed to pay closing cost and prepaids as follows :

*If the buyer puts 0-9.99% down, seller can contribute up to 3% of the sales price toward buyer's CC and prepaids.

*If the buyer puts 10% down or more, the seller can contribute up to 6% of the sales price toward buyer's CC and prepaids.

· Seller can pay up to 2% of the sales price toward buyer’s closing cost and prepaids on an Investment Property (minimum requirement on investment property is 20% down.

If your looking for a home check out our website at www.roxannedeberry.com. If you would like to speak to us directly please call 214-215-5106 and one our Agents will be happy to assist you. Thank you for considering "The DeBerry Team" of Keller Williams Realty to assist you in your residential buying or selling needs.

Contact Information
You may contact this poster using the form on this page.