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  Bedford Lending's Savings and Cost Analysis   Benefits of loan program
           
    Original Term Refinance with same term   Low Interest Rates.
          Refinance costs can be financed in most cases.
  Original Loan   Quick Closing - generally less than 90 days.
  Interest Rate   Streamlined processing - no appraisal, environmental or survey.
  Amortization Term   Funds available for capital improvements.
  First Mortgage Payment    
  Annual Debt Service   How to get started
          Call Bedford Lending Representative. They will:
  Monthly Savings     Perform free financial analysis
  Annual Savings     Review cost/savings analysis
  Life of the loan savings     Prepare a timeline
           
           
               
  Source and Use    
       
              Notes
  Sources            
  Original Mortgage         Maximum loan HUD Allows - Original loan amount
               
        Total Sources    
  Uses - Loan Payoff Calculations            
  Principal Balance as of Anticipated Closing          
  Prepay Penalty (% of loan)        
  Interest Rate and Amount        
  Payoff Fees          
  Less Reserves          
             
        Sub Total    
  Uses - Improvements            
  Proposed Improvements          
  Prior Improvements Financed by Sub Debt          
  Improvement Escrow          
  Deposit to Replacement Reserve          
        Sub Total    
  Closing Fees            
               
  Title Search Report          
  Title Policy & Recording          
  Borrower's Legal Fees          
  Lender's Legal Fees          
  PCNA Report          
  Environmental Report          
  Survey          
  Other Allowable Costs          
        Sub Total    
               
  HUD Application and Processing Fees            
  Mortgage Insurance        
  HUD Application Fee       Half of the fee will be refunded by HUD generally 3 to 4 months post-closing.
  Financing Fee        
  Placement Fee        
        Sub Total    
               
        Total Uses    
               
      Surplus Cash at Closing    
 
      Cash Required at Closing $0    
               
  Note: The numbers contained herein are preliminary, used for deal sizing purposes only, and will likely change prior to submission.    
               
  Prepaid expenses will be credited on closing statement. Prepaid expenses will be credited on closing statement.          
   
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