Loan Calculator
Resource Center:
This estimate is for a 30 year fixed rate loan at 3.5% interest, used for the purchase of a single family residential property located in Allegany, Maryland, to be used as a primary residence.
Other disclosure details:
This estimate is based on a projected settlement date of 07/15/2015, different settlement dates may change the amount needed for escrow accounts, and change the cash needed to close.
This estimate assumes that you will purchase both a lender's and borrower's title insurance policy. The lender's policy is required but the borrower's policy is optional, although it is highly recommended to purchase both policies.
Many other banks and loan web sites will omit the cost of the borrower's policy from their estimates as a way to make them appear lower, although they recommend the borrower purchase the policy as well.
Property Taxes and Hazard Insurance:
This estimate assumes that the borrower will escrow their property taxes and hazard insurance. In some cases, borrowers with enough equity in their homes may not be required to escrow these expenses, in which case their closing costs will be less.
NOTE: The financial calculators are for educational purposes only and are to assist you in estimating the approximate costs and affordability associated with obtaining a mortgage. Upon approval, the actual terms of your loan may vary depending on loan details, loan amount, your credit history, property location and occupancy status. Until you lock your rate, terms and rates are subject to change without notice.