Bank Of The Commonwealth - Mortgage Banking

business banking personal banking investment services investor relations mortgage banking

How much cash will I need at closing?

Tell us about the house you're interested in, and we'll tell you approximately how much cash you'll need at closing:

Sales Price of the Home:

Anticipated Down Payment Percent:

Estimated Interest Rate:

Discount Points Paid at Closing:

Estimated Annual Property Taxes:

Estimated Annual Homeowners Insurance:

Select the Term of the Loan in years:

Closing costs are based on an average of customary closing costs around the nation and include a 1% origination fee; your actual closing costs will reflect costs common and customary to your area and may vary according to specific product type selected.

Prepaid expenses include 30-days prepaid interest and 2 month's escrow for taxes, home owners insurance, and private mortgage insurance, if applicable; actual prepaid expenses may vary according to closing date and property location.

Reserves are funds available to borrower after closing and do not have to be paid to lender.

Note: The results provided by this calculator are intended for comparative purposes only. The accuracy of the results is not guaranteed. Any differences between these results and those provided by other lending institutions may be due to rounding or slight differences in mathematical formulas used.