Prepaid Items Estimation
- INTEREST ADJUSTMENT - INTEREST FROM DATE OF CLOSING TO END OF MONTH
- Loan Amount (L.A.) times (x) Interest Rate (I.R.) equals (=) $ Annual Interest;
- Divide Annual Interest (A.R.) by 365 days equals (=) Daily Rate (D.R.);
- Multiply Daily Rate (D.R.) times (x) Number of days left in month (including day of closing) equals (=) INTEREST ADJUSTMENT.
- FIRST YEAR HOMEOWNERS INSURANCE PREMIUM
- Up to $50,000 - estimate $267
- Up to $100,000 - estimate $336
- Up to $150,000 - estimate $448
- ESCROW DEPOSITS - (between Lender and Purchaser)
- Homewoners Insurance two months if new policy (this is on top of the one year prepaid policy above)
- Taxes existing home: calculate 1/12th of last tax bill, then multiply that times number of months indicated per schedule below
- Taxes on new home
- FULTON 1.8% of sales price
- DEKALB 1.2% of sales price
- COBB and GWINNETT 1.2% of sales price
- TAX PRORATION between seller and purchaser
- If taxes not yet due and payable, CREDIT from 1/1 to date of closing from SELLER TO PURCHASER
- If taxes are due and have been collected from Seller for the year, CREDIT from date of closing to 12/31 from PURCHASER TO SELLER
Tax Escrow Table
- IF CLOSING IN: DEKALB & FULTON (DUE 7/1) COBB & GWINNETT (DUE 9/1)
- January hold 8 months payment hold 6 months payment
- February hold 9 months payment hold 7 months payment
- March hold 10 months payment hold 8 months payment
- April hold 11 months payment hold 9 months payment
- May hold 12 months payment hold 10 months payment
- June hold 13 months payment hold 11 months payment
- July hold 2 months payment hold 12 months payment
- August hold 3 months payment hold 13 months payment
- September hold 4 months payment hold 2 months payment
- October hold 5 months payment hold 3 months payment
- November hold 6 months payment hold 4 months payment
- December hold 7 months payment hold 5 months payment
Buyer Orientation Pages
Information herein believed to be accurate but not warranted.