Closing Disclosure Closing Information Date Issued 120 Closing Date pgs Disbursement Date 12/13/15 This form is a statement of final loan terms and closing costs. Compare this document with your Loan Estimate. ‘Transaction Information Loan Information Borrower Harry Homebuyer and Heer Loan Term 30 yeas Homebuyer 999 Sanpee svest Purpose Purchase Anyuere, MD 12345 Product Fed Rate Settlement Agent Fedral TRe& Escrow Company Seller Saly Seer ad Solomon Sete ssiaserm 9909 Sarole Suet oan Type [Zl consensons! CI #HA 9999 Newihome Cour Anyare, PL 12345 OwO fre, MO 12345 Lender ——bastMorigage Company, UC Lean # 123456 Sle Price $500,000 Met laze Loan Amount $ 400,000 NO Interest Rate 3.875% NO Monthly Principal & Interest] $ 1,880.95 NO ‘See Projected Payments below for your ‘Estmatad Tata Monty Payment Prepayment Penalty Balloon Payment Does the loan have these features? NO. NO Frojected Payments | Payment Calculation Years 1-30 Principal & Interest. $ 1,880.95 Mortgage Insurance + oO Estimated Escrow + 707.66 Estimated Total Monthly Payment $ 2,588.61 This estimate includes Tn escrow? Estimated Taxes, Insurance | $ 707.66 C1 Property Taxes No & Assessments a month 1X] Homeowner's insurance Yes Amount can Inese over time IX] Other: County Taxes ves ‘See page 4 for details ‘See Escrow Account on page 4 for detals. You must pay for other property costs separately. PE $ 18,630.17 includes $4,719.50 in Loan Costs + $13,910.67 in Other Costs. Closing Costs See page 2 for details. Cash to Close $ 109,018.02 Includes Closing Costs. See Calculating Cash to Close on page 3 for details. PAGE 1 OF S-LOANID# 123456SSG Sst eta Borrower Pal Seller Paid Paid by Ploancosts ALClosing _BeforeCosina | atClosina Before Cosina | _ Others ‘Origination Charges $1,950.00, 101 0.25% of Loan Anouk Points) to Gant Morigage Company. $7,000.00 ‘2 Appleton Foe to Best Movigage Company. $ 950-0 oF 4 38 or oe 8, Services Borrower DId Nat Shop For E5720 ‘OH Appraisal Fe (pba Worgoge CoToary,L $450.0] Ba rede Report to Gest Morigage Company. $25.09 03 Food Cartesian FE to est Horgage Company, S709 04 TaxServee Fee to Best Mortgage Company. L $20.00 06 a7 ow , Services Borrower Did Shop For $219750, 101 Pest inspection Fee To Pasty epee, Le $00.0] 2 Tie Lenders Tie Insurance to Federal eewteennaetnncne Te Tns| $1272.50 (03 Tie Seler Nertgage Ls Alcade_te Federal ie & Escrow Co” $85.0 4 i= Sele Sellen Fee To Federal Tie & Escrow Com $350.09 05 Te Selena FS to Faaral Tie & Escrow Con Sa7Sa0| 06 oe . TOTAL LOAN COSTS (Borrower Paid) Fa9 3 Tan Core SUEDE (AT BC) TaT50] Taxes and Other Government Fees. $5402.50 01 Recording Fess Dexis60 00 Moraaaess000| 120.00 2 County Troster Tae Te onigomery County, MD. $2,500.00 $500.00 1 State Racoraaton Tax t Montgomery County, $1552.50 $1552.50 4 State Transfer Tax 1p Gere of crcutlcourt $1250.00 $1250.00 Prepaid $5542385 OT Fors n's Trans PETTY ARGS TTR ne] $980: 00 102 Mortgage Tnsurance Prerium (Cm) Ta Prepaid intrest FEASTS pet day Fam APLITIS Oi /Oiy16]| ——¢ HOEHS Daropery Taxes oun Assesor Ofice 04/01 Bru 06/30] $3,736.00 G. Initial Escrow Payment at Closing $1a532 D1 Homeowne’s Ineurance "381.56 perranth ord mw. $208 8] 12 Morigagefasurance De month form. ‘03 Propery Taxes per month ferme. 104 County Taxes 626.00 per aN or PF FIDE 06 o7 Os Rearaaa RAUL Taree] H. other $1,530.00, BT Adina Fs Hay wag Suva rake $385.0) ‘Oz Admnetabve Fs (Sel to Top Ustiig Resor THE 03 Locaton Survey, toLandtees Assocs SisEG| D4 RE. conmssion (RIG) 1 Top us Restors, Te Eis pao. USRE Conmenion (Selng Tog Suyer Broker Rests $15 000-00 (6 Tis Owrers Tie Insurances (opin) Fadaral Te Escrow 6 $350.0] ‘7 Wate Escrow TNS. 250.0 1. TOTAL OTHER COSTS (BonrowerPaid) $35 91067 ‘Other Costs Subtols E+ F-+ 6) Tsao] 3.TOTAL CLOSING COSTS (BorowerPald) 31863037 ‘Cosing Costs Subtotals (D + 1 318,630.17] $36,432.50] CLOSING DISCLOSURE PAGE 2 OF 5 - LOAN ID # 123456Calculating Cash to Close Use this table to see what has changed from your Loan Estimate. Loan estimate [Final | Did this change? Total Closing Cost $0] $18,630.17 [ves (Gosing Costs Pad Before Cos 0 s0|no CCosing Costs Financed (ais fom your Loan Amount) 30 so|no ‘Down PaymentFunds from Borower 30 | $ 100,000.00 [ves Depest 30 | $10,000.00 [ves Funds for Borrower 2 30 [ves ‘Se Cris 2 30 |No Adjusters and Other Cras so] s3a7as [ves [cash to Close 30 | $109,018.02 summary of your transactio BORROWER'S TRANSACTION SELLER'S TRANSACTION K. Due from Borrower at Closing $519,018.02 —_M. Due to Seller at Closing $500,387.85 1 Sale Price of Property 500,000,009 Sale Pree of Property 500,000.00 (02 Sale Price of Any Personal Properly Incided in Sle 02 Sole Price of Any Persona Properly Theuded in Sle 105, Gosing Coss Pad at Gosng W) Tea os o on ‘Adjustments 05 05 06 o of ‘Adjustments for Items Paid by Seller in Advance ‘Adjustments for Ttems Paid by Seller in Advance 08 Ciy/Town Taxes 09. Cly/Town Taxes (09 County Taxes FEET VOOIITA TS © “40 Couny Tose Tiss oe E387 8S 10 Assesses 11 Assessments 2 13 4 15 | Paid Aiready by or on Behalf of Borrower at Closing $410,000.00 _N. Due from Seller at Closing $36,432.50 91 Deposit $10,000.00 01 Excess Depost ‘2 Loan Amount 400,000.00 (32 Casing Costs Pad at Gang OL S350 (03, Existing Loon(6) Assumed or Tak Sublet 03 Existing Loans) Assured or Tak Subject ra Payor of Fst Mortgage Loan 05 Sater Gat 05 Payot of Second Mortgage Loan ‘Other Credits 06 06 o7 o7 o8 Salar Gade Adjustments 09 io 10 og 1 0 12 13 ‘Adjustments for Items Unpaid by Seller 12 Chy/Town Taxes 35 County Taxes ‘Adjustments for Items Unpaid by Seller 14 Chy/Town Taxes 15 County Taxes 14 Assessments 16 Assessments i6 18 CALCULATION CALCULATION. “otal Ove fom Borrower at Gosng () $519,018.02 “Toto Due to Seer Oosing $500,307.85 Total Paid ready by or on Ba of Borrower atChsing (L) $410,000.00 “Tow Due rom Seer at Cosa (N) $36,432.50, ‘Cash to Close [x] From [_] To Borrower $109,018.02 “Cash[_]From [x] To Seller $463,955.35 CLOSING DISCLOSURE PAGE 3 OF 5-LOANID# 120456,Adal in About TI ional Informa' Loan Geen) ‘Assumption 1 you sel or transter this property to another person, your lender wil all, under certain conditions, this person to assume this Toan on the original terms. [wit not allow assumption of ths loan on the orginal terms. Demand Feature Your loan has a demand feature, which permits your lender to require early repayment of the loan, You should review your note for details Hl does not have a demand feature, Late Payment 1 your payment is move than 15 days late, your lender wil charge @ late fee of 586 of the manthly principal and interest payment Negative Amortization (Increase in Loan Amount) Uncer your loan terms, you D1 are scheduled to make monthly payments that do not pay all of the interest due that month, AS result, your loan amount wil Increase (negatively amortize), and your loan amount wil ikely become lager than your erginal loan amount. Increases in your loan amount lower the equity you have in tis property Li may have monthly payments that do nt pay all ofthe interest die that month. If you do, your loan amount will increase (negatively amertize), and, as @ result, your Ioan amount may become larger than your exginl loan amount. Increases in your Joan amount lower the equity you have in this property do net have a negative amortization feature. Partial Payments Yur lender may accept payments thet are less than the full amount due (partial payments) and apply them to your loan may ho them in a separate account until you pay the rest of the payment, and then apply the Full payment to your loan ildoes nat accept any partial payments. If this loan is sod, your new lender may have a ctferent policy Security Interest You are granting a security interest in {9999 Newhome Court Anywhere, MO 12345 You may lose this property if you do not make your payments or satisfy other obligations for this loan CLOSING DISCLOSURE Escrow Account For now, your loan Fad will nave an escrow account (also called an “impound” or “rust” account) ‘0 pay the property costs listed below. Without an escrow Account, you would pay them diredly, possiby in ane af twa large payments a year. Your lender may be lable for penalties and interest for falling to make a payment. a Esconed 767918 [ Std wal amount ow year or oe vort amsornrs sural Cnt Tes Ten Evcrowed [Estimated wal aroun over yer 1 for Property Costs our non-escrowad propery eos: ve Year you may have other propery costs Inia Escrow ' 1415.32 [A custion forthe escrow account you Payment par at closing. See Secton G on page2 Monthy escow $ 707.66 | he amount included in your tal Payment rmonthy payrent. Hiwatt not have an escrow account because [] you decined it] your lender does not afer one. You must directly pay your propersy costs, suchas taxes and homeavmer’ insurance. Contact your lender to ask If your loan can have an escrow account Ne Escrow Estnatad estate total amount over year 1. You Property Costs muse pay nese costs cracty, poset over Year In oneor two age payments a yes. Escrow Waiver Fe| In the future, Your property costs may change and, 35 @ result, your escrow pay- ment may change. You may be able to cancel your escrow account, but if you do, you must pay your property costs direct. If you fal to pay your property taxes, your state or local government may (1) impose fines and penalties or (2) place a tax lien on this property. If you fail to pay any of your property costs, your lender may (1) ade ‘the amounts to your loan balance, (2) add an escrow account to your loan, or (3) require you to pay for property insurance that the lender buys on yaur behalf, which likely would cast more and provide fewer benefits than what you could buy on your own. PAGE 4 OF 5 - LOANTD # 123456—_ Total of Payments. Total you wll have paid after you make all payments of principal, interest, morgage Insurance, and loan costs, as scheduled. $0 Finance Charge. The collar amount the loan wil cost you. so ‘Amount Financed. The loan amount available after paying your upfront finance charge. so ‘Annual Percentage Rate (APR). Your costs over the Ioan term expressed asa rate. This isnot your Interest rate 0% Total Interest Percentage (TIP). The total amou of interest that you will pay over the loan term as a percentage of your lean amount. 0% Questions? If you have questions about the loan terms o° costs on this form, use the contact information below. To get more information for make a complaint, contact the Consumer Financal Protection Bureau at ‘www.consumerfinance.gov/mortgage-closing (ieee ‘Appraisal IF the property was appraised for your loan, your lender Is required to give you a copy at no addtional cost atleast 3 cays before chosing I you have not yet received it, please contact your lender a the information listed below. Contract Details See your note and security instrument for information about + what happens if you fal to make your payments, {what is 2 default on the loan, {situations in which your lender can require early repayment of the loan, and «the rues for making payments before they are due. Lbitty after Foreciosure If yur lender forecoses on his property andthe frelosure doesnot cover the amount of unpaid balance on ths lan, Ci'Sate law may protec you trom laity forte unpié balance. If you tenance or ake on any actonal dest on tis property, you may tose ths pretection ad have to pay any debt remaining even ater forecosve, You may want to coat 2 lanyer for mare nernatio. LE] state law does not protect you from liability for the unpaid balance. Refinance Refinancing tis loan will depend on your future financial situation, the property value, and market conditions, You may not be able to refinance this loan ‘Tax Deductions IF you borrow more than this property Is worth, the interest on the loan amount above this property’ falr market value Is not deductible from your federal income taxes. You should consulta tax advisor fo more Information, Lender [Mortgage Broker [RealEstate Broker [RealEstate Broker [Settlement Agent Name best Mortgage bic Buyer Broker [Top Listing Realtors, Federal Title & Escrow Icompany, LLC Realtors, Inc ine. {company adress l959 Lending Lane [959 Buyer Boulevard [999 Listing Lane [5335 Wisconsin Mortgage City, VA JAnywhere, USA 12345 [Anywhere, USA 12345 [averue, NW, Suite 700, 2345 |washington, DC 20015, NMLSID 23456 23456 3456 17079130 MD License ID liaaase hase 123456 far26049 Contact Larry Lender [arse Agent lange! Agent hoseph Gentile Contact NMLSID [122456 hiaas6 123456 lessas03 Contact MD License [123456 lza456 li2sase hsasa Email larrylend@bestmortgag larieagentendbbx.com [angel@topisterscom — ve@ederltitl.com Phone (703)999.9999 [20299-9999 (201)999-9999 [202)362.1500 Sa By signing, you a ths form only confirming that you ha ceived tis form, You donot have to accop his loan bocauso you have signed or received Harry Homebuyer CLOSING DISCLOSURE Date FTariet Homebuyer Date PAGE 5 OF 5- LOAN TD # 123456