Ln amt 68,000
tot CC -4324.09
POC 445.35
tot payoffs -63866.76
cash to close 254.50

Our software calculated CC financed as 4,133.24. The attorney's software calculated CC financed as 157.85. Which one is correct?

I'm not sure I understand, but not meaning to be crass...What's the total closing costs being financed? I mean how in the world can anyone answer your question?

I mean if I just take a blind stab at it based on the above,

IF Your loan amount includes $4324.09 in financed closing costs.

$68,000
-4324.09
+445.35
-63866.76

CTC = +$ 254.50

None of the CC are being financed

But your question is in regards to the correct closing costs financed. Now I'm more confused.

But the bottom line doesn't change if your total LA is $68,000.

If your total payoffs are less than the loan amount - how can there be no CC financed? Where is the extra money going?

Closing Costs Financed

Closing Costs - Line J - $4,324.09
Loan Amount - $68,000.00
Payoffs - $63,866.76
Closing Costs Financed - $4,133.24

Cash to Close

Closing Costs Line J - $4,324.09
Cash Available for Borrower - $4,133.24
Costs Paid before closing - $445.35
Cash to Close to borrower - $254.50.

Thanks Dan. $4,133.24 is the calculation I got. I don't know where the attorney came up with $157.85 for CC financed. I thought I was losing my mind.

To disclose CC financed on the Alternate Form, do you subtract POC from CC Financed. In this case 4,133.24 less 445.35. Thank you for your patience

Closing costs - $4,324.09.

Costs paid/financed on behalf of borrower - $445.35 + $4,133.24 = $4,578.59

$4,324.09 - $4,578.59 = $254.50 over payment of closing costs

Thanks. So I would subtract 254.50 from 4,133.24 and disclose 3,878.74 as CC fin (pd from your ln amt) on the CD?

Sorry....I just need to be sure. Our old software was pitiful.