![]() ![]() See details in Sections K and L Adjustments and Other Credits – $10,000.00 – $10,000.00 NO Cash to Close NO $0 $0 YES $0 – $2,500.00 YES $0 – $1,035.04 $16,054.00 $14,147.26Summaries of Transactions Summaries of Transactions Use this table to see a summary of your transaction.The section at the bottom ofthe page sums up how the BORROWER’S TRANSACTION SELLER’S TRANSACTIONmoney flows among you, thelender, and the seller.See Seller Credits in Section L Seller Credits $18,000.00 $18,000.00 NO.You paid these Closing Costs before closing Deposit Funds for Borrower $0 $0 NO.(Paid from your Loan Amount) Down Payment/Funds from Borrower $0 – $29.80 YES See Total Loan Costs (D) and Total Other Costs (I)bring to closing.ON PAGE 3 OF 5 Calculating Cash to Close Use this table to see what has changed from your Loan Estimate.Calculating Cash to Close Total Closing Costs (J) Loan Estimate Final Did this change?Closing costs are only a part Closing Costs Paid Before Closingof the total cash you need to Closing Costs Financed $8,054.00 $9,712.10 YES YES / NO (see above) SECTION 2: YOUR CLOSING 21 YES / NO (see page 9)I know whether I have an escrow account. YES / NO (see page 7)I see whether I am paying points or receiving points at closing. YES / NO (see page 7)I know whether or not my payment changes in future years. YES / NO (see page 10)I know whether I have a prepayment penalty or balloon payment. If you answer no, turn to the page indicated for more information:The interest rate is what I was expecting based on my Loan Estimate. USE YOUR CLOSING DISCLOSURE TO CONFIRM THE DETAILS OF YOUR LOAN Circle one. LOAN ID # 123456789Details of your closing costs appear on page 2 of the Closing Disclosure.More information can be found in this JanuFSA letter to direct farm loan borrowers.I) Lender Credits $9,682.30 $29.80 $12,800.00 $405.00CLOSING DISCLOSURE PAGE 2 OF 5 Although some direct loan borrowers may have received a standardized form known as the “Notice of Intent to Accelerate”, they should rest assured that USDA is not pursuing any acceleration or foreclosure. ![]() USDA will not be accelerating or foreclosing on any direct loans, regardless of payment status, while the suspension is in effect. In January 2021, USDA announced a temporary suspension of past-due debt collection and foreclosures for distressed direct farm loan borrowers due to the economic hardship imposed by the COVID-19 pandemic. ![]() Fact sheet: Inflation Reduction Act Assistance for Distressed Borrowersįact sheet translations: 中文 | Hmoob | 한국어 | ਪੰਜਾਬੀ | Español | ไทย | Tiếng Việt.Learn about the Inflation Reduction Act Assistance for Distressed Borrowers.This includes both automatic and case-by-case assistance, which USDA announced on October 18, 2022. USDA has allocated up to $1.3 billion for initial steps to help distressed borrowers, which are underway now. Section 22006 Inflation Reduction Act provides $3.1 billion for USDA to provide relief for distressed borrowers with certain Farm Service Agency (FSA) direct and guaranteed farm loans and to expedite assistance for those whose agricultural operations are at financial risk. Inflation Reduction Act Assistance for Distressed Borrowers Whether you’re a new farmer just getting started or a seasoned rancher in business for decades, we have farm loan options to help you meet your goals. USDA is here to help farmers, ranchers, and foresters get the farm loan support they need to be successful. ![]()
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |