how much money should i expect at closing im not sure how to calculate
2006-12-12 04:21:43 · 4 answers · asked by junebug4881 2 in Business & Finance ➔ Renting & Real Estate
Well it looks like you are refinancing, and taking out a 95% loan, which would be $104,500. And you owre $76,520.48, so the net balance would be $27,979.52.
But there are likely fees and maybe other liens/penalties/payoffs, so it's hard to tell exactly how much cash-out.
I would say you're getting around $20,000 cash-out, but it's still hard to say without the Estimated Hud.
Ask them to present you with an Est. Hud-1 to see exactly how it breaks down and what they're charging you.
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http://www.thetruthaboutmortgage.com
2006-12-12 04:31:28 · answer #1 · answered by Anonymous · 0⤊ 0⤋
I am a bit confused..... are you asking how much you will make if you sell your house?
95% of 110,000 is definitely NOT 76,520 so if you are refinancing and the loan officer told you that you are taking out a 95% loan then it looks like you are getting screwed over...
Send me an email or a YIM! message to clear up your question a bit. I am a Mortgage Planner based in California but I can help anyone anywhere in the US.
2006-12-12 13:49:08 · answer #2 · answered by Anonymous · 0⤊ 0⤋
Your balance will include any unpaid property taxes, outstanding liens against the property, unpaid late fees, unpaid interest etc.
I wrote an article on this...check it out for more info.
2006-12-12 12:25:31 · answer #3 · answered by Anonymous · 0⤊ 0⤋
ask your loan officer for a good faith estimate! Only they know for sure.
2006-12-12 12:25:52 · answer #4 · answered by golferwhoworks 7 · 0⤊ 0⤋