Doing a cash out purchase (borrowers are using additional property they own free and clear as additional collateral) should loan estimate show $-0- for Cash to Close.

Loan - $165,000
Purchase Price - $158,000
Closing Costs - $2,359
Cash to Close - $-0-

The Funds to Borrower of $4,641 does not appear on the LE anywhere is that correct? (using LaserPro)

I think the LE should show

Loan - $165,000
Purchase Price - $158,000

(J) Total Closing Costs - $2,359
Closing Costs Financed $2,359
Funds For Borrower $4,641
Estimated Cash to Close $4,641 to Borrower

I can't get LaserPro to show it this way. Any LaserPro users have a fix to this?

Laserpro released a guidance doc. on this issue. Basically it says since on a purchase the regulation will not let you show Funds For Borrower (must always be $0) you can disclose the additional money in Section K- Adjustment and Other Credits or H- Other Costs, but either way the Cash to Close will not equal the Summaries of Transaction Cash to Close. I can send you a copy if you want to PM me your email address.

Sent you a PM