Page 9 - AAG119_HECM for Purchase Booklet for Builders

#2 AAG HECM for Purchase Loan

Sales Price $200,000 $300,000 $500,000

Age Estimated Cash to Close*
62 $123,003 1 $182,276 5 $299,573 9

65 $119,003 2 $176,276 6 $289,573 10

70 $112,203 3 $166,076 7 $272,573 11

75 $107,003 4 $158,276 8 $259,573 12
*Closing costs not included.

1 This example is based on the youngest bor- 8 This example is based on the youngest bor-
rower age 62, Annual Percentage Rate (APR) rower age 75, APR of 5.879%, home purchase
of 5.716%, home purchase price of $200,000, price of $300,000, IMIP of $6,000, origination
IMIP of $4,000, origination fee of $4,000, and fee of $5,000, and other settlement costs of
other settlement costs of $2,803. $2,976.
2 This example is based on the youngest bor- 9 This example is based on the youngest bor-
rower age 65, APR of 5.777%, home purchase rower age 62, APR of 5.581%, home purchase
price of $200,000, IMIP of $4,000, origination price of $500,000, IMIP of $10,000, origination
fee of $4,000, and other settlement costs of fee of $6,000, and other settlement costs of
$2,803. $3,073.
3 This example is based on the youngest bor- 10 This example is based on the youngest bor-
rower age 70, APR of 5.845%, home purchase rower age 65, APR of 5.627%, home purchase
price of $200,000, IMIP of $4,000, origination price of $500,000, IMIP of $10,000, origination
fee of $4,000, and other settlement costs of fee of $6,000, and other settlement costs of
$2,803. $3,073.
4 This example is based on the youngest bor- 11 This example is based on the youngest bor-
rower age 75, APR of 5.968%, home purchase rower age 70, APR of 5.678%, home purchase
price of $200,000, IMIP of $4,000, origination price of $500,000, IMIP of $10,000, origination
fee of $4,000 and other settlement costs of fee of $6,000, and other settlement costs of
$2,803. $3,073.
5 This example is based on the youngest bor- 12 This example is based on the youngest bor-
rower age 62, APR of 5.655%, home purchase rower age 75, APR of 5.771%, home purchase
price of $300,000, IMIP of $6,000, origination price of $500,000, IMIP of $10,000, origination
fee of $5,000, and other settlement costs of fee of $6,000, and other settlement costs of
$2,976. $3,073.
6 This example is based on the youngest bor- HECM Fixed rates are effective as of
rower age 65, APR of 5.709%, home purchase 06/20/2018 and subject to change without
price of $300,000, IMIP of $6,000, origination notice.
fee of $5,000, and other settlement costs of
$2,976.
7 This example is based on the youngest bor-
rower age 70, APR of 5.769%, home purchase
price of $300,000, IMIP of $6,000, origination
fee of $5,000 and other settlement costs of
$2,976.
aag.com/builders 9