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Please show calculations in spreadsheet for parts a, b, c.

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3. On August 20, Mr. and Mrs. Cleaver decided to buy a property from Mr. and Mrs. Ward for SIO5.000. On August 30, Mr. and Mrs. Cleaver obtained a loun commitment from OKAY National Bank for an $84.000 conventional loan at 10 percent for 30 years. The lender informs Mr. and Mrs. Clever that a 2,100 loan origination fee will be required to obtain the loan. The loan closing is to take place September 22. In addition, escrow accounts will be required for all prorated property taxes and hazard Insurance; however, no mortgage insurance is necessary The buyer will also pay a full year's premium for hard insurance to Rock of Gibraltar Insurance Company. A breakdown of expected settlement costs, provided by OKAY National Bank when Mr. and Mr. Cleaver inspect the uniform settlement statement as required under RESPA on September 21, is as follows: 1. Transactions between buyer borrower and third parties a Recording fees--mortgage 30.00 b. Real estate transfer tax 225.00 c Recording fees/document prop. 200.00 d. Hazard insurance-one-year policy--Rock of Gibraltar Ines Co. 420.00 c. Peggy Prudent-attorney 150.00 f. Inspections 50.00 8. Title insurance fee (Landco Title Co.) 400.00 . Landco Title Co-closing fee 125.00 II. Transactions between seller und third parties 2. Release statement-seller's mortgage 5.00 b. Payoff-seller's mortgage (Home State Bank) 32.715.00 c. Real estate brokerage fee (6% Fast Deal Realty) 6,300.00 II. Buyer borrower and lender information: 4. Amount of loan $ 84,000.00 b. Prepaid interest is owed from closing through September 30, which cquals nine days (inclusive). Regular payments to begin on November 1.1.10 X 84,000) + 365] - 9 207.12 Property tax escrowtwo months required 133.33 d. Loan origination fee 2,100.00 IV. Buyer and seller information: a. Purchase price $105,000.00 b. Deposit paid by Cleaver to Ward (paid in escrow to OKAY National Bank) 1,500.00 c Real estate tax proration (taxes for the current year to be paid in artears by buyer to county nat January 1: 5800 per year). Seller own property from s 57863 January I to September 22. or 264 days. Buyer owes for remaining 101 days. Therefore, a credit for part of the S800 per year real estate tax (for 264 days) is due to buyer from seller at closing. Required: a What are the amounts dwe from the borrower and due to the seller at closing? b. What would be the disclosed annual percentage rate as required under the Truth-in-Lending Act? c. When will the first regulur monthly mortgage payment be du from the borrower? 3. On August 20, Mr. and Mrs. Cleaver decided to buy a property from Mr. and Mrs. Ward for S105.000. On August 30, Mr. and Mrs. Cleaver obtained a loan commitment from OKAY National Bank for an $84.000 conventional loan at 10 percent for 30 years. The lender informs Mr. and Mrs. Cleaver that a $2,100 loan origination fee will be required to obtain the loan. The loan closing is to take place September 22. In addition, escrow accounts will be required for all prorated property taxes and hard insurance; however, no mortgage insurance is necessary. The buyer will also pay a full year's premium for hard insurance to Rock of Gibraltar Insurance Company. A breakdown of aspected settlement costs, provided by OKAY National Bank when Mr. and Mrs. Cleaver inspect the uniform settlement statement as required under RESPA on September 21, is as follows: 1. Transactions between buyer-borrower and third parties: a Recording fees-mortgage $ 30.00 b. Real estate transfer tax 225.00 c. Recording fees/document prep. 200.00 d. Hazard insurance one-year policy-Rock of Gibraltar Ins. Co. 420.00 e Peggy Prudent-attorney 150.00 S. Inspections 50.00 & Title insurance fee (Landco Title Co.) 400.00 I Landco Title Co-closing fee 125.00 II. Transactions between seller and third parties: a. Release statement--seller's mortgage 5.00 b. Payoff seller's mortgage (Home State Bank) 32,715.00

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