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ITEMIZATION OF AMOUNT FINANCED Creditor: Applicant(s): Mailing Address: Property Address: Loan Number: Loan Type: Preparation Date: Estimated Interest Rate: Loan Amount Prepaid Finance Charge Amount.

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The amount financed is equal to your loan amount minus any prepaid finance charges. This figure is based on the assumption that you'll keep the loan to maturity and make only the minimum required monthly payments. The amount financed is used to calculate your annual percentage rate.

It means the amount of money you are borrowing from the lender, minus most of the upfront fees the lender is charging you.

The down payment is paid in full upon closing the sale. It is generally a percentage of the total purchase price and is designed to provide security for the lender in the event of default. Therefore, it is not included in the amount financed.

Amount financed is the actual amount of credit made available to a borrower in a loan. It is the total amount of credit a borrower is approved for from a lender. The amount financed is an important factor for calculating the installment payments that a borrower will have to pay over the life of the loan.

The "prepaid fees" that reduce the loan amount on the Truth in Lending disclosure are amounts of money the lender will receive when the loan closes. As a result, the loan amount shown on the form is the net amount the lender will actually provide for you to end up with the loan size you need to buy the home.

The Amount Financed is the loan amount applied for, minus the Prepaid Finance Charges. Prepaid Finance Charges include items paid at or before settlement, such as loan origination, commitment or discount fees ( point ), adjusted interest, and initial mortgage insurance premium.

It means the amount of money you are borrowing from the lender, minus most of the upfront fees the lender is charging you.

Net After Finance Fees Logic would dictate that the amount financed would be the cost of the home less your down payment. ... These charges include mortgage discount points, prepaid interest, private mortgage insurance -- PMI -- and lender fees.

The Amount Financed is the loan amount applied for, minus the Prepaid Finance Charges. ... The Amount Financed is lower than the amount you applied for because it represents a NET figure. If you applied for $50,000 and the Prepaid Finance Charges total $2,000, the Amount Financed would be $48,000.

The amount financed is equal to your loan amount minus any prepaid finance charges. This figure is based on the assumption that you'll keep the loan to maturity and make only the minimum required monthly payments. The amount financed is used to calculate your annual percentage rate.

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© Copyright 1997-2025
airSlate Legal Forms, Inc.
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Form Packages
Adoption
Bankruptcy
Contractors
Divorce
Home Sales
Employment
Identity Theft
Incorporation
Landlord Tenant
Living Trust
Name Change
Personal Planning
Small Business
Wills & Estates
Packages A-Z
Form Categories
Affidavits
Bankruptcy
Bill of Sale
Corporate - LLC
Divorce
Employment
Identity Theft
Internet Technology
Landlord Tenant
Living Wills
Name Change
Power of Attorney
Real Estate
Small Estates
Wills
All Forms
Forms A-Z
Form Library
Customer Service
Terms of Service
DMCA Policy
About Us
Blog
Affiliates
Contact Us
Privacy Notice
Delete My Account
Site Map
All Forms
Search all Forms
Industries
Forms in Spanish
Localized Forms
Legal Guides
Real Estate Handbook
All Guides
Prepared for You
Notarize
Incorporation services
Our Customers
For Consumers
For Small Business
For Attorneys
Our Sites
US Legal Forms
USLegal
FormsPass
pdfFiller
signNow
airSlate workflows
DocHub
Instapage
Social Media
Call us now toll free:
1-877-389-0141
As seen in:
  • USA Today logo picture
  • CBC News logo picture
  • LA Times logo picture
  • The Washington Post logo picture
  • AP logo picture
  • Forbes logo picture
© Copyright 1997-2025
airSlate Legal Forms, Inc.
3720 Flowood Dr, Flowood, Mississippi 39232