Closing and Initial Cost Calculator

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Home Cost					Total Cost of your new Home
Down required for Mortgage					Total down payment down payment - cost = mortgage amount
Earnest down payment					The total down payment or earnest money given to the Real Estate Agent
Insurance					Home owners insurance. This is required by lenders in Florida and will vary upon location.
Taxes					The approximate annual real estate taxes. This may be found at the applicable county appraisers web site.
Interest Rate					Mortgage interest rate
Purchase Month					Month when you expect your purchase to close. The closing date is the date ownership is transferred to you.
Purchase Day					Day of the month when closing will take place
Points					The amount of points that your lender will charge. Whats This?
Escrow (Taxes, Insurance)					May vary by lender. Whats This?
Points					Whats This?
Closing Fees
Title Insurance					What This?
Recording
State Note Tax					Required state tax applied against the mortgage amount. The tax amount is $0.35 per $100 of the mortgage amount.
State intangible Tax					Required state tax applied against the mortgage amount. The tax amount is $0.002 per dollar.
Survey					May be Prepaid
Inspection					May be Prepaid. Whats This?
Insurance					May be Prepaid
Mortgage Interest
Legal Fees					Presumption of .5% of home cost.
Initial Total Costs					Anticpated closing Costs
Funds Required at Closing					Closing costs including the mortgage down payment less any earnest money. The funds you require may differ. Closing funds require a cashiers check.

Use the above as guide, other fees may apply. Law requires all lenders to provide good faith estimate of closing costs.