|
Closing costs are based on an average of customary closing
costs around the nation and include a 1% origination fee; your actual
closing costs will reflect costs common and customary to your area and
may vary according to specific product type selected.
Prepaid expenses include 30-days prepaid interest and 2 month's escrow
for taxes, home owners insurance, and private mortgage insurance, if applicable;
actual prepaid expenses may vary according to closing date and property
location.
Reserves are funds available to borrower after closing and do not have
to be paid to lender.
|
