Prepaid Items Estimation

  1.  INTEREST ADJUSTMENT - INTEREST FROM DATE OF CLOSING TO END OF MONTH
    1. Loan Amount (L.A.) times (x) Interest Rate (I.R.) equals (=) $ Annual Interest;
    2. Divide Annual Interest (A.R.) by 365 days equals (=) Daily Rate (D.R.);
    3. Multiply Daily Rate (D.R.) times (x) Number of days left in month (including day of closing) equals (=) INTEREST ADJUSTMENT.
  2. FIRST YEAR HOMEOWNERS INSURANCE PREMIUM
    1. Up to $50,000 - estimate $267
    2. Up to $100,000 - estimate $336
    3. Up to $150,000 - estimate $448
  3. ESCROW DEPOSITS - (between Lender and Purchaser)
    1. Homewoners Insurance two months if new policy (this is on top of the one year prepaid policy above)
    2. Taxes existing home: calculate 1/12th of last tax bill, then multiply that times number of months indicated per schedule below
    3. Taxes on new home
      • FULTON 1.8% of sales price
      • DEKALB 1.2% of sales price
      • COBB and GWINNETT 1.2% of sales price
  4. TAX PRORATION between seller and purchaser
    1. If taxes not yet due and payable, CREDIT from 1/1 to date of closing from SELLER TO PURCHASER
    2. 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.




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