Compare Loan Costs
Purchasing a new home involves coming up with the initial investment in the form of a down payment; it also includes the cost of the loan. You will find that the true cost of a loan varies from lender to lender and it will change as the interest rate changes. Be sure to compare all the costs of a loan when interviewing lenders. The interest rate alone does not tell the entire story! |
| Lender 1 | Lender 2 | Lender 3 |
| Amount of down payment | $ | $ | $ |
| Interest Rate | $ | $ | $ |
| 15 Year Fixed | $ | $ | $ |
| 30 Year Fixed | $ | $ | $ |
| 1 Year ARM | $ | $ | $ |
| 3 Year ARM | $ | $ | $ |
| Discount Points Charged | $ | $ | $ |
| PMI (Initial Premium can be amortorized) | $ | $ | $ |
| Application Fee (Appraisal + Credit Report) | $ | $ | $ |
| Appraisal | $ | $ | $ |
| Credit Report | $ | $ | $ |
| Commitment Fee | $ | $ | $ |
| Attorney's Fees | $ | $ | $ |
| Survey | $ | $ | $ |
| Title Fees | $ | $ | $ |
| Pre-Payable Items | $ | $ | $ |
| Interest from date of closing to the end of the month |
$ | $ | $ |
| Property Taxes (2 Months) | $ | $ | $ |
| Private Mortage
Insurance (2 Months) |
$ | $ | $ |
| Total Costs | $ | $ | $ |
