Closing Disclosure
This form is a statement of final loan terms and closing costs. Compare this document with your Loan Estimate.
Loan Terms
| Can this amount increase after closing? | ||
|---|---|---|
| Loan Amount ℹ️ | $180,000 | NO |
| Interest Rate ℹ️ | 5.125% | NO |
| Monthly Principal & Interest ℹ️ See Projected Payments below for your Estimated Total Monthly Payment |
$784.07 | NO |
| Prepayment Penalty ℹ️ | YES As high as $3,240 if you pay off the loan during the first 2 years | |
| Balloon Payment ℹ️ | NO | |
Projected Payments
| Payment Calculation | Years 1 - 30 | |
|---|---|---|
| Principal & Interest ℹ️ | $784.07 | |
| Mortgage Insurance ℹ️ | $0.00 | |
| Estimated Escrow ℹ️ (Amount can increase over time) | $326.22 | |
| Estimated Total Monthly Payment | $1,110.29 | |
| Estimated Taxes, Insurance & Assessments Amount can increase over time. See page 4 for details. |
$448.66 monthly
This estimate includes:
☑ Property Taxes In Escrow
☑ Homeowner's Insurance In Escrow
☑ Homeowner Association Dues Not In Escrow
|
|
Costs at Closing
Closing Costs ℹ️
$10,213.60
Includes $4,574.33 in Loan Costs + $5,639.27 in Other Costs - $0 in Lender Credits. See page 2 for details.
Cash to Close ℹ️
$155,692.84
Includes Closing Costs. See Calculating Cash to Close on page 3 for details.
Closing Cost Details
| Loan Costs | Borrower-Paid | Seller-Paid | Paid by Others | ||
|---|---|---|---|---|---|
| At Closing | Before Closing | At Closing | Before Closing | ||
| A. Origination Charges $960.48 | |||||
| 01 % of Loan Amount (Points) (Money Bags Bank) ℹ️ | $960.48 | - | - | - | - |
| 02 Third Party Mortgage Brokerage Fee (ABC Lending Brokerage) ℹ️ | - | - | - | - | $3,960.00 |
| 03 | |||||
| B. Services Borrower Did Not Shop For $1,133.35 | |||||
| 01 Appraisal Fee (CLASS APPRAISAL) ℹ️ | - | $465.00 | - | - | - |
| 02 Credit Report Fee (Money Bags Bank) ℹ️ | - | $65.35 | - | - | - |
| 03 Flood Certification (Money Bags Bank) ℹ️ | $8.00 | - | - | - | - |
| 04 Third Party Processing Fee (Money Bags Bank) ℹ️ | $595.00 | - | - | - | - |
| C. Services Borrower Did Shop For $2,480.50 | |||||
| 01 Land Survey (NextGen Surveyors) ℹ️ | $300.00 | - | - | - | - |
| 02 Municipal Lien Search (Clear Choice) ℹ️ | $148.00 | - | - | - | - |
| 03 Title - Lender's Title Insurance (Neo Gen Title / Fidelity) ℹ️ | $1,097.50 | - | - | - | - |
| 04 Title - Settlement / Closing Fee (Neo Gen Title & Escrow) ℹ️ | $800.00 | - | - | - | - |
| 05 Title - Title Search & Examination (Neo Gen Title) ℹ️ | $135.00 | - | - | - | - |
| D. TOTAL LOAN COSTS (Borrower-Paid) | $4,043.98 | $530.35 | - | - | $3,960.00 |
| Other Costs | |||||
| E. Taxes and Other Government Fees $1,203.50 | |||||
| 01 Recording Fees (Deed: $31.50, Mortgage: $182.00) ℹ️ | $213.50 | - | - | - | - |
| 02 Transfer Taxes (Broward County Tax) ℹ️ | $990.00 | - | - | - | - |
| F. Prepaids $1,078.50 | |||||
| 01 Homeowner's Insurance Premium (12 mo.) (Insurance Co) ℹ️ | $441.00 | - | - | - | - |
| 02 Prepaid Interest ($21.25 per day from 04/01/26 to 05/01/26) ℹ️ | $637.50 | - | - | - | - |
| G. Initial Escrow Payment at Closing $2,168.52 | |||||
| 01 Homeowner's Insurance ($36.67/mo for 3 mo.) ℹ️ | $110.00 | - | - | - | - |
| 02 Property Taxes ($289.47/mo for 8 mo.) ℹ️ | $2,315.76 | - | - | - | - |
| 03 Aggregate Adjustment ℹ️ | ($257.24) | - | - | - | - |
| H. Other $1,188.75 | |||||
| 01 Compliance Fee (123 Realty) ℹ️ | $295.00 | - | - | - | - |
| 02 Title - Owner's Title Insurance (optional) (Neo Gen Title) ℹ️ | $893.75 | - | - | - | - |
| I. TOTAL OTHER COSTS (Borrower-Paid) | $5,639.27 | - | - | - | - |
|
J. TOTAL CLOSING COSTS (Borrower-Paid) Closing Costs Subtotals (D + I) |
$9,683.25 | $530.35 | - | - | $3,960.00 |
Calculating Cash to Close
Use this table to see what has changed from your Loan Estimate.| Loan Estimate | Final | Did this change? | |
|---|---|---|---|
| Total Closing Costs (J) | $10,618.00 | $10,213.60 | NO |
| Closing Costs Paid Before Closing | $0.00 | ($530.35) | NO |
| Closing Costs Financed (Paid from Loan Amount) | $0.00 | $0.00 | NO |
| Down Payment/Funds from Borrower | $74,000.00 | $157,500.00 | NO |
| Deposit | ($3,000.00) | ($10,000.00) | NO |
| Funds for Borrower | $0.00 | $0.00 | NO |
| Seller Credits | $0.00 | $0.00 | NO |
| Adjustments and Other Credits | $0.00 | ($1,490.41) | NO |
| Cash to Close | $81,618.00 | $155,692.84 | From Borrower ☑ |
Summaries of Transactions
Use this table to see a summary of your transaction.BORROWER'S TRANSACTION
K. Due from Borrower at Closing $347,639.55
| 01 Sale Price of Property | $337,500.00 |
| 02 Sale Price of Any Personal Property Included | - |
| 03 Closing Costs Paid at Closing (J) | $9,683.25 |
| Adjustments for Items Paid by Seller in Advance | |
| 09 County Taxes (04/01/26 to 09/30/26) | $333.97 |
| 10 Assessments (04/01/26 to 04/30/26) | $122.33 |
L. Paid Already by or on Behalf of Borrower $191,946.71
| 01 Deposit | $10,000.00 |
| 02 Loan Amount | $180,000.00 |
| 03 Existing Loan(s) Assumed | - |
| Adjustments for Items Unpaid by Seller | |
| 13 County Taxes (01/01/26 to 04/01/26) | $1,946.71 |
Total Due from Borrower at Closing (K)$347,639.55
Total Paid Already by/for Borrower (L)- $191,946.71
Cash to Close: From Borrower
$155,692.84
SELLER'S TRANSACTION
M. Due to Seller at Closing $337,956.30
| 01 Sale Price of Property | $337,500.00 |
| 02 Personal Property | - |
| Adjustments for Items Paid by Seller in Advance | |
| 10 County Taxes (04/01/26 to 09/30/26) | $333.97 |
| 11 Assessments (04/01/26 to 04/30/26) | $122.33 |
N. Due from Seller at Closing $182,446.71
| 02 Closing Costs Paid at Closing (J) | - |
| 04 Payoff of First Mortgage Loan | $180,500.00 |
| Adjustments for Items Unpaid by Seller | |
| 15 County Taxes (01/01/26 to 04/01/26) | $1,946.71 |
Total Due to Seller at Closing (M)$337,956.30
Total Due from Seller at Closing (N)- $182,446.71
Cash to Close: To Seller
$155,509.59
Additional Information About This Loan
Assumption
If you sell or transfer this property to another person, your lender:
☐ will allow, under certain conditions, this person to assume this loan on the original terms.
☑ will not allow assumption of this loan on the original 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.
☑ does not have a demand feature.
Late Payment
If your payment is more than 15 days late, your lender will charge a late fee of 5.00% of the monthly principal and interest payment.
Negative Amortization (Increase in Loan Amount)
Under your loan terms, you:
☐ may have Monthly payments that do not pay all of the interest due.
☑ do not have a negative amortization feature.
Partial Payments
Your lender:
☑ may accept payments that are less than the full amount due (partial payments) and apply them to your loan.
☐ may hold them in a separate account until you pay the rest of the payment.
☐ does not accept any partial payments.
Security Interest
You are granting a security interest in:
987 Somewhere Street, Hollywood, Florida 33020
You may lose this property if you do not make your payments or satisfy other obligations for this loan.
Escrow Account
For now, your loan:
☑ will have an escrow account (also called an "impound" or "trust" account) to pay the property costs listed below. Without an escrow account, you would pay them directly, possibly in one or two large payments a year.
| Escrowed Property Costs over Year 1 | $3,914.64 | Estimated total amount over year 1 for your escrowed property costs |
| Non-Escrowed Property Costs over Year 1 | $1,467.96 | Estimated total amount over year 1 for your non-escrowed property costs (e.g. HOA dues) |
| Initial Escrow Payment | $2,168.52 | A cushion for the escrow account you pay at closing. See Section G on page 2. |
| Monthly Escrow Payment | $326.22 | The amount included in your total Monthly payment. |
In the future,
Your property costs may change and, as a result, your escrow payment may change. You may be able to cancel your escrow account, but if you do, you must pay your property costs directly. If you fail to pay your property taxes, your state or local government may impose fines or place a tax lien on this property.
Loan Calculations & Disclosures
Loan Calculations
| Total of Payments ℹ️ | Finance Charge ℹ️ | Amount Financed ℹ️ | Annual Percentage Rate (APR) ℹ️ | Total Interest Percentage (TIP) ℹ️ |
|---|---|---|---|---|
|
$286,681.65
Total you will have paid after you make all payments of principal, interest, mortgage insurance, and loan costs, as scheduled.
|
$141,091.80
The dollar amount the loan will cost you.
|
$180,000.00
The loan amount available after paying your upfront finance charge.
|
5.287%
Your costs over the loan term expressed as a rate. This is not your interest rate.
|
56.78%
The total amount of interest that you will pay over the loan term as a percentage of your loan amount.
|
Other Disclosures
Contract Details: See your note and security instrument for information about what happens if you fail to make your payments, what is a default on the loan, situations in which your lender can require early repayment, and the rules for making payments before they are due.
Liability after Foreclosure: If your lender forecloses on this property and the foreclosure does not cover the amount of unpaid balance on this loan, state law may protect you from liability for the unpaid balance.
Refinance: 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.
Tax Deductions: If you borrow more than this property is worth, the interest on the loan amount above this property's fair market value is not deductible from your federal income taxes. Consult a tax advisor.
Contact Information
| Lender | Settlement Agent (Neo Gen Title) | |
|---|---|---|
| Name | Money Bags Bank | Neo Gen Title & Escrow Services |
| Address | 555 Someplace Special, Hollywood, FL 33020 | 2785 Rockbrook Dr., Ste. 304, Lewisville, TX 75067 |
| NMLS ID / License | NMLS # 54038 | TDI / FL License # NGT-8941 |
| Contact Person | Loan Officer Dave | Neo Gen Escrow Officer (Settlement Specialist) |
| closing@moneybagsbank.com | orders@neogentitle.com | |
| Phone | (800) 555-0199 | (800) 860-8907 |
Confirm Receipt
By signing below, you only confirm that you have received this form. Signing this form does not mean that you have accepted this loan.
Applicant: Michael Jones
Date: __________________
Co-Applicant: Mary Jones
Date: __________________