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

 
This Page is similar to the Comparison worksheet that is part of your Good Faith Estimate.  The difference is it calculations are done based upon the information that is input by you.   The comparison of two loans offering the same rate of interest is very easy.   It is just a matter of comparing the "Origination Costs" of the two loans.  The purpose of this calculator page is to allow you to compare loans offering different rates of interest.  Remember the rates offered are directly related to the cost of the loan to you and Lower Costs typically mean a Higher Rate.   This calculator has the field that asks how long you expect to live in home.   Without looking at this could cause you to pay more on your loan than needed.  Hopefully this calculator will help you answer the question: "Do I want to pay more to save money over the term of the mortgage"

Anyone wanting assistance in choosing the right loan, can give me a call at 216.324-8113. 

The Shaded fields should be changed based upon your transaction.  Some or the other fees can be changed if needed. 

.. GFE_Options.xls
       
       
       
In this GFE, we offered you this loan with a particular interest rate and estimated settlement charges. However:
If you want to choose this same loan with lower settlement charges, then you will have a higher interest rate.
If you want to choose this same loan with a lower interest rate, then you will have higher settlement charges.
If you would like to choose an available option, you must ask us for a new GFE.
Loan originators have the option to complete this table. Please ask for additional information if the table is not completed.
Term of Loan (In Months) (this field can be set between 120 and 480 months)
How long do you expect to Live Here? (This Field can be set between 1 and 480 Months)
       
These Calculations assume Closing Cost Difference is Paid in Cash or Not Required
  The loan in this GFE The same loan with lower settlement charges The same loan with a lower interest rate
Your Initial Loan Amount
Your Initial Interest Rate
Your Initial Monthly Amount Owed
Change in Monthly Amount Owed from this GFE NO CHANGE
Change In the Amount you will pay at Settlement with this Interest Rate NO CHANGE
How much your total estimated settlement charges will be
       
Cost of this Option n/a
Payments over Life of Loan
       
These Calculations assume Closing Cost Difference used to adjust your Loan
  The loan in this GFE The same loan with lower settlement charges The same loan with a lower interest rate
Your Initial Loan Amount
Your Initial Interest Rate
Your Initial Monthly Amount Owed
Change in Monthly Amount Owed from this GFE NO CHANGE
Change In the Amount you will pay at Settlement with this Interest Rate NO CHANGE
How much your total estimated settlement charges will be
       
Cost of this Option n/a
Payments over Life of Loan


 

 

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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