Buyer’s estimate explained for 5934 NE 4th Ct Miami Fl 33137

As your real estate broker, I’ve reviewed the Buyer’s Estimate prepared for your upcoming purchase at 5934 NE 4th Ct Miami FL 33137. This document outlines exactly what you’ll need to bring to the closing table and what your carrying costs will look like moving forward.

Here is a clear breakdown of the numbers for our projected April 1, 2026 closing.

1. The Purchase & Financing

• House Price: We are locked in at $2,873,620.
  
  
• Down Payment: You are putting down 50% ($1,436,810).
• Loan Details: We’ve modeled a 30-year conventional loan for the remaining $1,436,810 at a fixed rate of 5.875% (5.975% APR).
  
  

2. Cash to Close (What you need on 04/01)

To finalize the transaction, your "Bring to Close" amount is $1,495,622.85. This is composed of:

• Your Down Payment: $1,436,810.
  
  
• Fixed Closing Costs ($24,485.51): This includes title insurance ($9,760), a 1% loan origination fee ($14,368), and various recording/government fees. Note that we’ve already factored in a $5,000 seller concession to help offset these.
  
  
• Prepaid Items ($34,327.34): These are "front-loaded" costs to set up your escrow account, including 14 months of homeowners insurance ($21,583) and 4 months of property taxes ($9,275).
  
  

3. Monthly Carrying Costs (PITI)

Once you move in, your total monthly payment (PITI) is estimated at $12,359.69.

• Principal & Interest: $8,499.27.
  
  
• Homeowners Insurance: $1,541.67.
  
  
• Property Taxes: $2,318.75.
  
  
• PMI: $0.00 (Since you are putting 50% down, you avoid Private Mortgage Insurance entirely).

Broker’s Key Takeaways

Tax & Insurance Accuracy: The monthly tax estimate of $2,318.75 and insurance of $1,541.67 align with the luxury profile of this property. As we discussed previously, your high elevation (16.37 ft) is a major factor in keeping these insurance rates manageable for a home of this value.

Seller Concessions: We successfully negotiated a $5,000 credit from the seller, which is applied directly against your fixed closing costs.

Let me to connect you with our Preferred Lender so you may lock in a 5.875% interest rate today.