FICUS BANK
4321 Random Boulevard • Somecity, ST 12340
Loan Estimate
DATE ISSUED 2/15/2013
APPLICANTS Michael Jones and Mary Stone 123 Anywhere Street
Anytown, ST 12345
PROPERTY 456 Somewhere Avenue
Anytown, ST 12345
SALE PRICE $180,000
Save this Loan Estimate to compare with your Closing Disclosure.
LOAN TERM 30 years
PURPOSE Purchase ce PRODUCT Fixed Rate
LOAN TYPE x Conventional FHA VA LOAN ID # 1234567891330172608
RATE LOCK NO x YES, until 4/16/2013 at 5:00 p.m. EDT
Before closing, your interest rate, points, and lender credits can change unless you lock the interest rate. All other estimated closing costs expire on 3/4/2013 at 5:00 p.m. EDT
Loan Terms Can this amount increase after closing?
See Projected Payments below for your Estimated Total Monthly Payment
Does the loan have these features?
Prepayment Penalty YES • As high as $3,240 if you pay off the loan during the first 2 years
Projected Payments
Closing Cost Details
LENDER Ficus Bank
NMLS/ LICENSE ID
LOAN OFFICER Joe Smith
NMLS/ LICENSE ID 12345
EMAIL joesmith@ficusbank.com
PHONE 123-456-7890
NMLS/ LICENSE ID
NMLS/ LICENSE ID EMAIL PHONE
Comparisons Use these measures to compare this loan with other loans.
In 5 Years
$56,582 Total you will have paid in principal, interest, mortgage insurance, and loan costs.
$15,773 Principal you will have paid off.
Annual Percentage Rate (APR) 4.274% Your costs over the loan term expressed as a rate. This is not your interest rate.
Total Interest Percentage (TIP) 69.45% The total amount of interest that you will pay over the loan term as a percentage of your loan amount.
We may order an appraisal to determine the property’s value and charge you for this appraisal. We will promptly give you a copy of any appraisal, even if your loan does not close. You can pay for an additional appraisal for your own use at your own cost.
If you sell or transfer this property to another person, we will allow, under certain conditions, this person to assume this loan on the original terms. x will not allow assumption of this loan on the original terms.
This loan requires homeowner’s insurance on the property, which you may obtain from a company of your choice that we find acceptable.
If your payment is more than 15 days late, we will charge a late fee of 5% of the monthly principal and interest payment.
Refinancing this loan will depend on your future financial situation, the property value, and market conditions. You may not be able to refinance this loan.
We intend to service your loan. If so, you will make your payments to us. x to transfer servicing of your loan.
Confirm Receipt
By signing, you are only confirming that you have received this form. You do not have to accept this loan because you have signed or received this form.
