Cost Scenarios

Please view below our sample tables of estimated fees and interest rates associated with the program.  Please note that you cannot withdraw from the program once you have signed the loan agreement. Current rates and costs as reflected in the tables are estimates only and it is our hope that actual costs may be lower.  To that end, the program is structured to achieve the highest credit rating possible and thus will obtain the lowest borrowing costs possible for program participants.  All of these costs are included as a means of creating a structure that provides the lowest assessment rate for the borrowers.  It is very typical for there to be costs associated with mortgages and other consumer loans; the costs for your assessment are similar to the costs associated with such private sector loans.  The closing costs may be included in the principal of the loan.

Amount  you apply for

Approximate Closing Costs (9%)

Total Principle Amount

Estimated Annual Assessment for 5 yr. Loan (5.5%)

Estimated Annual Assessment for 10 yr. Loan (6.5%)

 $                             50,000

 $                             4,500

 $                               54,500

 $                            12,763

 $                                     7,581

 $                           100,000

 $                             9,000

 $                             109,000

 $                            25,525

 $                                   15,162

 $                           150,000

 $                           13,500

 $                             163,500

 $                            38,288

 $                                   22,744

 $                           200,000

 $                           18,000

 $                             218,000

 $                            51,050

 $                                   30,325