Tim Bradford   
Lending Specialist   
216-324-8113   
OHIO LO.007173.000   
NMLS  250013   

Generate a Loan Worksheet with Fees, Costs, Cash to Close and Payment ONLINE NOW

 

Comparison of Loan Options
This Table/Chart can assist you in comparing Loans offered to you by different lenders. 

  This Loan Loan 2 Loan 3 Loan 4
Loan Originator Name        
Loan Originators Phone Number        
Date Information was received        
Initial Loan Amount        
Loan Term        
Initial Interest Rate        
Initial Monthly Payment (Principle, Interest and Monthly Mortgage Insurance)        
Rate Lock Period        
Can Interest Rate Rise? (Adjustable Rate Loan)        
Can Loan Balance Rise?        
Can Monthly Amount owed Rise? (Principle and Interest)        
Prepayment Penalty?        
Balloon Payment?        
Can you Lock this Rate Today?        
         
 

The Rate of Interest and these Costs
are the Key Points to consider.
(Provided all shaded items are the same)

Total Estimated Settlement Charges        
Total Lender Fees (Guaranteed)        
Total Title Company and Third Party Fees (Guaranteed)        
Total Title Company and Third Party Fees (NOT Guaranteed)        
Estimated Funds for Escrow Account        

This Table/Chart contains more Information than the one on the RESPA Documents. 

Shaded Items - Each of these shaded items should be exactly the same to allow an Apples to Apples comparison.  If a loan option is presented to you that is different in any of these items, you need to either get similar quotes from the other lenders or use other information to justify not shopping further.   
 

If you are comparing different Interest Rates, you may wish to look at this Calculator that may assist you determine the best option.


 

Questions, comments, or suggestions?
Please contact me:
Tim Bradford, American Midwest Mortgage Corp.
Telephone: 216-324-8113


Updated

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Tim Bradford -- Ohio MB.803389 -- LO.007173 ---- NMLS CO.142066/LO.250013
6363 York Road #300, Parma Heights, Ohio 44130
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