Scenerio:
Sales Price $90,000.00
All Closing Costs $2,328.58 (paid in cash)
Loan Amount $90,000.00
Total Closing Costs (J) on LE says $2,328.58
Closing Costs Financed ($2,328.58)
Down Payment/Funds from Borrower 0.00
Estimated Cash to Close 0.00
Since the customer is paying their fees, the Estimated Cash to Close is 0.00. Isn't that correct? The Estimated Cash to Close is calculated as the sum of the seven amounts in the Estimated Cash to Close Table. The Closing Costs Financed are subtracted out of the total since they are paid for. Everyone is wanting the Estimated Cash to Close to say $2,328.58 but I dont think it will. Am I going nuts? They added into adjustments, but I explained that the down payment should not go there.. Only certain items like gifts from family members or credits from a delevoper or home builder, etc.