1. For Buyers and Seller Expenses
Formulas
For Buyers and Seller Expenses
Interest to / from the end of the month: Loan amount x interest rate, divided by 365 equals daily interest amount. Example: x 3.75% = $7125 divided by 365 = $19.52 per day interest to = 14 days. 14 x =
Buyers Insurance Calculation: Credit score, roof age and age and price of property all affect the insurance premium. Rule of thumb calculation for average score, roof and home would be approx. 1.5% of the sales price. Example $ x 1.5% = $3000 annual premium. $3000 divided by 12 months = $250 per month to escrow account.
Tax Proration: Annual tax bill divided by 12 months = monthly escrow payment. Example: $2500 divided by 12 = $210 month. Sellers tax proration would be $2500 divided by 12 months x number of months they owned it that year. Example: $2500 divided by 12 = $210. Closed Nov. 15th . $210 x 10.5 months = $2205 owed by seller.
PMI on Conventional loan at 95% = Base loan amount times .91% divided by 12 for the monthly PMI payment. Example: $ x .91% = $ divided by 12 = $ monthly premium.

2. For Buyers and Seller Expenses
Formulas
For Buyers and Seller Expenses
PMI Estimates depending on Credit Score and Loan Amount:
Credit Score under Credit Score 740 and above
95% LTV % %
90% LTV % %
85% LTV % %
FHA MIP calculation: Base loan amount times 1.75% added to the base loan amount. Example: x 1.75% = $ Total Loan Amount $ In addition FHA has a monthly MIP premium. Monthly is .85% of the base loan amount. Example: 193,000 x .85% = 1640 divided by 12 = $ per month added to the payment.
VA Funding Fee calculation: Sales price or loan amount times $2.15% for veteran first time use. Example: $ x 2.15% = $ Total loan amount would be $ Subsequent use of VA benefits is 3.30% of sales price or loan amount. See VA Funding Fee Tables.
Documentary Stamps calculation: Sales price rounded to the nearest $500 times $1.50 per $ Example: rounded to $ x 1.50 = $298.50