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 #2173237 - 04/12/18 05:22 PM Purchase & Cash Out for HI - Cash to Close Likes to Comply Platinum Poster Registered: 11/07/08 Posts: 831 Loc: In the mountains Details of the transaction - Loan Amount - \$153,000Down Payment due from borrower to ensure LTV limits - \$27,000Total Fees to be paid in cash - \$3,756.55 ____________________________________Equals total funds - \$183,756.55 minusSales Price - \$135,000Total Fees - \$3,756.55_____________________EqualsCash to the borrower for home improvement - \$45,000The Down Payment/Funds from Borrower and the Funds for Borrower line items on the Calculating Cash to Close table are both formulas, we cannot input a specific amount. Additionally, if I understand the rules for these calculations correctly, you will have an amount in one or the other but never both. I cannot figure out any way to show a Down Payment and Funds for Borrower.So the Calculating Cash to Close Table looks like this on the LE since there isn't anyway to disclose the down payment:Total Closing Costs: \$3,756.55Closing Costs Financed (Paid from your Loan Amount): -\$3,756.55Down Payment/Funds from Borrower: \$0Deposit: \$0Funds for Borrower: -\$14,243.45Seller Credits: \$0Adjustments and Other Credits: \$0Estimated Cash to Close: -\$14,243.45 (is the same as disclosed on pg. 1 Estimated Cash to Close)I know in theory we can just let the customer keep their \$27,000 and \$3,756.55 in cash and the loan proceeds are applied toward the purchase amount and closing costs, so the difference is \$14,243.45 left of loan proceeds paid to the borrower.First question, is the Estimated Cash to Close correct?Second, would you still ask the borrower to bring a total of \$30,756.55 to closing and they would be issued a payment of \$45,000 even though this isn't reflected on the CD?We are just worried because the closing disclosure doesn't accurately capture the cash in and out in this transaction. We just can't seem to figure this out. Any help would be greatly appreciated! _________________________ Always learning something new... Top
 TRID - TILA/RESPA Integrated Disclosures Rule

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