On August $20,$ Mr$.$ and Mrs$.$ Cleaver decided to buy a property from Mr$.$ and Mrs$.$ Ward for $$109,500.$ On August $30,$ Mr$.$ and Mrs$.$ Cleaver obtained a loan commitment from OKAY National Bank for an $$84,900$ conventional loan at $5$ percent for $30$ years. The lender informs Mr$.$ and Mrs$.$ Cleaver that a $$2,190$ loan origination fee will be required to obtain the loan. The loan closing is to take place September $22.$ In addition, escrow accounts will be required for all prorated property taxes and hazard insurance; however, no mortgage insurance is necessary. The buyer will also pay a full year$$s premium for hazard insurance to Rock of Gibraltar Insurance Company. A breakdown of expected 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:

I. Transactions between buyer$-$borrower and third parties:

a$.$ Recording fees$$mortgage $ $39\mathrm{.}00$

b$.$ Real estate transfer tax $243\mathrm{.}00$

c$.$ Recording fees$/$document preparation $218\mathrm{.}00$

d$.$ Hazard insurance$$one$-$year policy$$Rock of Gibraltar Insurance company $438\mathrm{.}00$

e$.$ Peggy Prudent$$attorney $168\mathrm{.}00$

f$.$ Inspections $59\mathrm{.}00$

g$.$ Title insurance fee $($Landco title Company$)418\mathrm{.}00$

h$.$ Landco title Company$$Closing fee $134\mathrm{.}00$

II$.$ Transactions between seller and third parties:

a$.$ Release statement$$seller$\text{'}$s mortgage $5\mathrm{.}00$

b$.$ Payoff$$Seller$\text{'}$s mortgage $($Home State Bank$)32,760\mathrm{.}00$

c$.$ Real estate brokerage fee $(6\%$ Fast Deal Realty$)6,345\mathrm{.}00$

III. Buyer$-$borrower and lender Information:

a$.$ Amount of loan $ $84,900$

b$.$ Prepaid interest is owed from closing through september $30,$ which equals nine days $($inclusive$).$ Regular payments to begin on November $1.[0\mathrm{.}05\backslash$times $84,900)-$: $365]\backslash$times $9104\mathrm{.}67$

c$.$ Property tax escrow$$two months required $136\mathrm{.}33$

d$.$ Loan origination fee $2,190\mathrm{.}00$

IV$.$ Buyer and seller information:

a$.$ Purchase price $ $109,500\mathrm{.}00$

b$.$ Deposit paid by Cleaver to Ward $($paid in escrow to OKAY National Bank$)1,518\mathrm{.}00$

c$.$ Real estate tax proration $($taxes for the current year to be paid in arrears by BUYER to county next January $1$: $$818$ per year$).$ Therefore, because the SELLER will own the property from January $1$ to September $22,$ or $264$ days. Therefore, the Buyer owes for the $101$ days prior to closing and transfer of title. Therefore, a credit for part of the $$818-$per$-$year real estate tax $($for $264$ days$)$ is due to buyer from seller at closing. $ $591\mathrm{.}65$

Required:

a$.$ What are the amounts due 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 regular monthly mortgage payment be due from the borrower?