3850Amount of new loan 625000
Loan chrgs - orig fee 250
- Appraisal fee 3850
- Tax service 56
-Flood certif 8
-Certify co articles 35

Title Charges - closing fee 300
-Title insur premium 1244
- spec assess letter 50

Recording Charges- Govt 90
-future satisfactions 60
Deed &Trans prep - 45

Payoffs -old loan principle 619325
-interest 1765

Funds from buyer 2077


Figures are rounded

What do YOU think ?
While we're happy to HELP we wont do all the work for you.
Show us what you have done and where you are having problems..

Quote:

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Originally Posted by Curlyben

What do YOU think ?
While we're happy to HELP we wont do all the work for you.
Show us what you have done and where you are having problems..

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Fair enough and thanks for the response.
I know how to handle the recording of the new obligation and cancelling the old obligation. I am unsure of the misc charges. Can I expense the loan charges, Title charges, and recording charges. Do some have to be capitalized and amortized? The only substantial ones are the appraisal fee of 3850 and title insurance of 1244. If they can be expensed can they be lumped together as loan fees?

Thanks in advance for your help. Gary