Professional Documents
Culture Documents
Mortgage
Refinance
Home Equity
Page 1 of 5
$2,023
$4,008
$1,405
$678
$8,115
Detailed information
Down payment
$35,000
$41,032
Loan amount
$315,000
Interest rate
3.625%
APR
3.932%
Points
0.247
$1,437
https://www.bankofamerica.com/home-loans/mortgage/closing-costs-calculator-results.go
4/21/2016
$339
$126
Page 2 of 5
$1,902
$778.05
$2,023
$778.05
$1,245
Discount points vary based on loan product and amount. To reduce your costs, you
may decide to select an interest rate with fewer discount points. At Bank of America,
once your rate is locked in, it is guaranteed not to go up during the rate lock period.
$2,023
Third-party fees
Life of Loan Flood Monitoring
$17
$15
Title-Closing/Escrow Fee
$725
$450
$350
$965
Appraisal Fee
$460
$10
https://www.bankofamerica.com/home-loans/mortgage/closing-costs-calculator-results.go
4/21/2016
Recording Mortgage
$90
$89
Page 3 of 5
$838
Title company and attorney fees are determined by the individual state and the
company you use and may differ from this estimate. This represents the lender's
policy only. In some states an owner's policy is also required or may be negotiated
between buyer and seller.
$4,008
Prepaid items
Prepaid items represent funds for the initial payment of interest on your loan. Prepaid interest varies
depending on which day of the month you close. It covers the interest that accrues on your loan from your
closing date until the last day of the month. Once your closing date has been selected, we will be able to
provide you with the exact amount of prepaid interest required for your loan so you can plan accordingly.
You will also need to provide the initial premium for your homeowners insurance policy. In some cases this
may include flood, earthquake or other insurance coverage as well. Bank of America may be able to assist
you in obtaining a competitive quote through affiliated insurance companies.
Well keep you informed about cash to cover prepaid expenses for your new loan and property.
$469
$936.00
$1,405
$156.00
$522.00
$678
https://www.bankofamerica.com/home-loans/mortgage/closing-costs-calculator-results.go
4/21/2016
Page 4 of 5
Recalculate
Property ZIP code *
30041
Purchase price *
Down payment *
$ 350,000
10
Loan term *
30 years
20 years
15 years
Loan type *
Fixed rate
5-year ARM
7-year ARM
10-year ARM
Recalculate
1. These calculator results are for illustrative and educational purposes only and are based on information you provided.
The closing costs calculator is not intended as financial information about your specific situation. Accuracy is not
guaranteed, and not all products will be available to everyone.
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4/21/2016
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Page 5 of 5
https://www.bankofamerica.com/home-loans/mortgage/closing-costs-calculator-results.go
4/21/2016