Quick Calculation for USDA
· $100,000 total of pocket (for closing cost and prepaids) is $6075.
· For each $1000 up or down add or subtract $30 ($101,000 would be $6105; $99,000 would be $6045). Try it a couple of times and call us if questions.
· There is no down payment required (line 3A of contract).
· There is an upfront Guarantee Fee that is rolled into the note (calculate it at 2.00%)
· Seller is allowed to pay all reasonable closing cost and prepaids (up to 6% of the sales price)
Posted by Roxanne DeBerry on
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