| PRICE OF HOME LOAN TYPE LOAN TERM DOWN PAYMENT (5%) LOAN AMOUNT INTEREST RATE REAL ESTATE TAXES EARNEST MONEY DEPOSIT ***Higher or lower depending on credit scores and down payment. |
$450,000 Conventional 5 years $0.00 450,000 6.5% *** 2,400 5,000 |
|
| LOAN RELATED FEES | ||
| Appraisal Fee Credit Report Fee Misc. Lender Fees |
$400 60 400 |
|
| PREPAIDS OR ESCROW ITEMS | ||
| Prepaid Interest (Per Diem) Hazard Insurance (1 year) Hazard Insurance Escrow Prepaid RE Taxes (4 months) PMI (2 months) |
$190 $1,500 250 1,600 200 |
|
| TITLE CHARGES Settlement Fee (legal) Title Insurance ($4.25 per $1,000 approx.) |
500 1900 |
|
| GOVERNMENT RECORDING AND TRANSFER FEES | ||
| Recording Fees Recordation Tax State Transfer Tax |
150 2,250 ($2,250 paid by seller for resale homes) * 1,125 ($1,313 paid by seller for resale homes)** |
|
| ADDITIONAL SETTLEMENT FEES | ||
| Survey Pest Inspection Condo/HOA (2 months)Misc |
200 60 150 |
|
| TOTAL CLOSING COSTS
** First time home buyers exempt from State Transfer Tax |
$11,395 | |
| DOWN PAYMENT | $0.00 | |
| TOTAL MONEY NEED TO BUY | $11,395 | |
| LESS EARNEST MONEY | $ 5,000 | |
| CASH NEEDED AT SETTLEMENT | $ 6,395 | |
| ESTIMATED MONTHLY PAYMENT | ||
| Principal & Interest 1 Month RE Taxes 1 Month Hazard Insurance ($600 annum) |
$2,844 @ 6.5% 200 125 |
|
| MONTHLY PAYMENTS
Plus Condo/HOA monthly fee (estimate ) TOTAL MONTHLY EXPENSES |
$3,169 70 $3,239 |
|
| Transfer taxes and Recordation Fees may be split 50/50 Buyer and Seller.
* It is customary for Sellers to pay one half of the Recordation Fee, but not required. ** Sellers must pay one half of the State Transfer Fee and buyer is exempt from their half. All financial information is estimated and may vary from buyer to buyer. Contact Homefinders.com with any questions you have about closing costs and settlement procedures for homes in Waldorf or other Charles County real estate locations. |
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Homes for Sale in Waldorf MD
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