QUAD CITIES REAL ESTATE WITH RE/MAX

SERVING THE ENTIRE IOWA AND ILLINOIS QUAD CITIES ............................................................

DAVENPORT - BETTENDORF - ROCK ISLAND - MOLINE AND SURROUNDING COMMUNITIES

TOM & CYNDEE BROWNER - CRS, ABR, GRI

BROKER OWNERS OF RE/MAX BI-STATE - SERVING IOWA & ILLINOIS

1-563-388-0008 Office - 1-563-388-0083 Fax - 1-866-388-0083 Toll Free - 1-563-570-7629 Cell - 355-1616 Home

Have a question? The answer is just a call or e-mail away. Contact us at tom&cyndee@quadcitiesrealestate.com

We are both Accredited Buyers Representatives (Certified Buyer's Agents) we know you want to make the best decision. You want the best home possible for your investment. We know the market, and we work at your pace and not ours. We will guide you through all the forms, take you through the first time buyer programs and/or financing, inspections and explain everything each step of the way. We take care of all the details and problems before they become a problem to you. Call us on our private line at 570-7629 at RE/MAX BI-STATE or Contact us at tom&cyndee@quadcitiesrealestate.com - LOOKING TO SELL? Check out the services an Certified Residential Specialist can mean to you.

THE WAY THE SYSTEM WORKS

Bank charges change month to month and year to year with the availability of money. That is what a mortgage is, purchasing money and using a home as collateral. The cost listed below are there because they have been charged at times by all lenders. Currently, you can get loans without origination and discount points. You can also save on commitment fees, first year PMI insurance and other areas. I have decided to show them all because there may come a time when they will be charged again. In shopping for a loan, interest rates are important, but so are closing cost. For instance, if you get an 1/8% better interest rate but have to pay another $1000 in closing cost, the savings may not be a savings. You have to inspect all the associated cost and then based on your expectations of how long you anticipate living in the property, make a decision based on all the information.

ESTIMATED MORTGAGE OR PRINCIPLE BORROWED

------------------------------------------------ CONVENTIONAL -----------VA/FHA --------------------------------------------------- SALES PRICE ---------------------------- $ ____________ ---------- ___________ ------ TAXES --------- $ _________ --- BORROWED CLOSING COST ----- $ __ NONE ___ --plus--- ___________ ------ INSURANCE -$ _________ --- LESS DOWN PAYMENT -------------- $ ____________ --------- ___________ ------------------------------------------------ LESS PROGRAM MONEY ----------- $ ____________ --------- ___________ ------------------------------------------------ V A FUNDING FEE ---------------------- $ __ NONE ___ --plus-- ___________ ------- CLOSING DATE ___/___/___ PRIVATE MORTGAGE INS. --------- $ __ NONE ___ --plus-- ___________ ------------------------------------------------ TOTAL MORTGAGE ------------------- $ ____________ --------- ___________ -- @ _____ % _______ YEARS ------

TYPICAL BUYER ACQUISITION EXPENSES

----------------------------------------- CONVENTIONAL -------------- F H A -------------- V A ----------------------------- DOWN PAYMENT ---------------------------- 5 - 20 % ---------------------- 3 - 5% -------------- 0% ---------------------------- APPRAISAL ------------------------------- $ 300.00 ------------------------ $ 250.00 -------------- $ 250.00 ----------------------- CREDIT REPORT ----------------------- $ -50.00 ------------------------ $ - 50.00 -------------- $ - 50.00 ----------------------- LAND SURVEY --------------------------- $ 100,00 ----------------------- $ 100.00 -------------- $ 100.00 ----------------------- FLOOD ENDORSEMENT ------------- $ - 25.00 ----------------------- $ - 25.00 ------------- $ - 25.00 ----------------------- ORIGINATION FEE --------------------- $ ______ ---------------------- $ ______ ------------- $ ______ ---------------------- DISCOUNT POINTS --------------------- $ ______ ---------------------- $ ______ ------------- $ ______ ---------------------- COMMITMENT FEE -------------------- $ 200.00 ---------------------- $ 200.00 -------------- $ 200.00 ----------------------- CLOSING FEE ----------------------------- $ - 50.00 ---------------------- $ - 50.00 -------------- $ - 50.00 ----------------------- RECORDING FEE ($5/PAGE) -------- $ - 45.00 ---------------------- $ - 45.00 --------------- $ - 45.00 ----------------------- TITLE INSURANCE ($1/1000 + $50) $ ______ ---------------------- $ ______ -------------- $ ______ ---------------------- ABSTRACTING & ATTORNEY ----- $ 300.00 ----------------------- $ 300.00 -------------- $ 300.00 ----------------------- 1ST YEAR PMI (PRINCIPLE X .005) $ _____ ----------------------- $ ______ ------------- $ ______ ----------------------- HAZARD INSURANCE (1 YR) -------- $ _____ ----------------------- $ ______ ------------- $ ______ ----------------------- ESCROW 2 MO INS. --------------------- $ _____ ----------------------- $ ______ ------------- $ ______ ---------------------- ESCROW 2 MO PMI. -------------------- $ _____ ----------------------- $ ______ ------------- $ ______ ----------------------- ESCROW 2 MO PROPERTY TAX --- $ _____ ----------------------- $ ______ ------------- $ ______ ----------------------- ESCROW 2 MO FLOOD INS ---------- $ _____ ----------------------- $ ______ ------------- $ ______ ----------------------- PREPAID INTEREST TO END MO - $ _____ ----------------------- $ ______ ------------- $ ______ ----------------------- INSPECTIONS ----------------------------- $ _____ ----------------------- $ ______ ------------- $ ______ ------------------------

BACK TO CLOSING COST EXPLANATIONS - REAL ESTATE MAIN MENU - TOCYNBRO HOME PAGE

BUYER SELF QUALIFICATION