DocuSign Envelope ID: 5192BD10-C9AA-4FF7-9EFA-63197B5A9D97
Save this Loan Estimate to compare with your Closing Disclosure.
Loan Estimate LOAN TERM
PURPOSE
30 years
Purchase
DATE ISSUED 11/01/2023 PRODUCT 3/1 Adjustable Rate
APPLICANTS Ricardo Alberto Umana Cervantes LOAN TYPE 3 Conventional FHA VA
LOAN ID # 20231030000001
RATE LOCK 3 NO YES, until at
Before closing, your interest rate, points, and lender credits can
PROPERTY 717 Longboat Drive change unless you lock the interest rate. All other estimated
Davenport, FL 33896 closing costs expire on at
SALE PRICE $387,167
Loan Terms Can this amount increase after closing?
Loan Amount $290,375.25 NO
Interest Rate 7.50% NO
Monthly Principal & Interest $2,030.35 NO
See Projected Payments below for your
Estimated Total Monthly Payment
Does the loan have these features?
Prepayment Penalty YES • As high as $8,711 if you pay off the loan during the
first 3 years
Balloon Payment NO
Projected Payments
Payment Calculation Years 1-30
$2,030.35
Principal & Interest
Mortgage Insurance + 0
Estimated Escrow + 661
Amount can increase over time
Estimated Total
Monthly Payment $2,692
This estimate includes In escrow?
3 Property Taxes Yes
Estimated Taxes, Insurance $661 3 Yes
& Assessments Homeowner's Insurance
Amount can increase over time a month Other:
See Section G on page 2 for escrowed property costs. You must pay for other
property costs separately.
Costs at Closing
Estimated Closing Costs $24,544 Includes $16,203 in Loan costs + $8,341 in Other costs - $0
in Lender Credits. See page 2 for details.
Estimated Cash to Close $43,903 Includes Closing Costs. See Calculating Cash to Close on page 2 for details.
Visit www.consumerfinance.gov/mortgage-estimate for general information and tools.
LOAN ESTIMATE
Calyx Form (11/20) PAGE 1 OF 3 · LOAN ID # 20231030000001
DocuSign Envelope ID: 5192BD10-C9AA-4FF7-9EFA-63197B5A9D97
Closing Cost Details
Loan Costs Other Costs
A. Origination Charges $11,705 E. Taxes and Other Government Fees $1,888
of Loan Amount (Points) $0 Recording Fees and Other Taxes $291
Attorney Fee $1,475 Transfer Taxes $1,597
Loan Origination Fee $8,711
F. Prepaids $2,807
Processing Fee $1,145
Tax Services Fee $74 Homeowner's Insurance Premium ( months)
Mortgage Insurance Premium ( months)
Translation Fee $300
Prepaid Interest ( $60.49 per day for 24 days @ 7.5 %) $1,452
Property Taxes ( months)
Hazard Insurance Premium ( 12 months) $1,355
G. Initial Escrow Payment at Closing $2,646
Homeowner's Insurance per month for mo.
B. Services You Cannot Shop For $918 Mortgage Insurance per month for mo.
Property Taxes $548.49 per month for 4 mo. $2,194
Appraisal Fee $650
Hazard Insurance $112.92 per month for 4 mo. $452
Credit Report Fee $250
Flood Certification $18
H. Other $1,000
Capital Contribution - HOA $1,000
I. TOTAL OTHER COSTS (E + F + G + H) $8,341
C. Services You Can Shop For $3,580
Title - Closing Fee $750
Title - Endorsement 5.1 $50 J. TOTAL CLOSING COSTS $24,544
Title - Endorsement 6.1 $50 D+I $24,544
Title - Endorsement 9.0 $232 Lender Credits
Title - Lender's Title Insurance $871
Title - Lien Search $125 Calculating Cash to Close
Title - Owner's Title Insurance $1,452
Total Closing Cost (J) $24,544
Title -Endorsement 8.1 $50
Closing Costs Financed (Paid from your Loan Amount) $0
Down Payment/Funds from Borrower $96,792
Deposit -$77,433
Funds for Borrower $0
Seller Credits $0
Adjustments and Other Credits $0
D. TOTAL LOAN COSTS (A + B + C) $16,203
Estimated Cash to Close $43,903
Adjustable Interest Rate (AIR) Table
Index + Margin
Initial Interest Rate 7.5%
Minimum/Maximum Interest Rate 7.5% / 7.5%
Change Frequency
First Change
Subsequent Changes Every 12th month after first change
Limits on Interest Rate Changes
First Change 0%
Subsequent Changes 0%
LOAN ESTIMATE
Calyx Form (11/20) PAGE 2 OF 3 · LOAN ID # 20231030000001
DocuSign Envelope ID: 5192BD10-C9AA-4FF7-9EFA-63197B5A9D97
Additional Information About This Loan
LENDER MORTGAGE BROKER Zark Services LLC
NMLS / ___ LICENSE ID NMLS / ___ LICENSE ID 1926097
LOAN OFFICER LOAN OFFICER Alessandre Aparicio
NMLS / ___ LICENSE ID NMLS / ___ LICENSE ID 1784522
EMAIL EMAIL info@zarkmortgageloans.com
PHONE PHONE 786-241-3048
Comparisons Use these measures to compare this loan with other loans.
$142,123 Total you will have paid in principal, interest, mortgage insurance, and loan costs.
In 5 Years
$15,630 Principal you will have paid off.
Annual Percentage Rate (APR) 7.449% Your costs over the loan term expressed as a rate. This is not your interest rate.
The total amount of interest that you will pay over the loan term as a
Total Interest Percentage (TIP) 152.216% percentage of your loan amount.
Other Considerations
Appraisal We may order an appraisal to determine the property value and charge you for this
appraisal. We will promptly give you a copy of any appraisal, even if your loan does not close.
You can pay for an additional appraisal for your own use at your own cost.
Assumption If you sell or transfer this property to another person, we
will allow, under certain conditions, this person to assume this loan on the original terms.
will not allow assumption of this loan on the original terms.
Homeowner's This loan requires homeowner's insurance on the property, which you may obtain from a
Insurance company of your choice that we find acceptable.
Refinance Refinancing this loan will depend on your future financial situation, the property value, and
market conditions. You may not be able to refinance this loan.
Servicing We intend
to service your loan. If so, you will make your payments to us.
to transfer servicing of your loan.
Confirm Receipt
By signing, you are only confirming that you have received this form.You do not have to accept this loan because you have signed or
received this form.
Applicant Signature Date Co-Applicant Signature Date
LOAN ESTIMATE
Calyx Form (11/20) PAGE 3 OF 3 · LOAN ID # 20231030000001
