Amount Financed

The amount of creditThe ability of a person to borrow money, or buy good by paying over time. Credit is extended based on provided to or on behalf of the borrowerPerson responsible for repaying a loan who has signed and agreed to the terms in the promissory note., calculated under the Truth in Lending ActTruth in Lending The popular name for the Consumer Credit Protection Act passed in 1989. This federal. This is the principalThis term is used to mean the employer of an agent; or the amount of money borrowed, or the amount of minus certain loanTransfers for which the recipient incurs a legal debt and repayment is required over time, with or without charges that the Truth in LendingThe name given to the federal statutes and regulations Act defines as financeTo supply money for a purchase. A lender can finance home ownership with a mortgage loan. charges.

Amount financed

The base loanTransfers for which the recipient incurs a legal debt and repayment is required over time, with or without amount without regard to closing costsVarious fees required to conclude a real estate transaction., discount pointsThe amount of money the borrower or seller must pay the lender to get a mortgage at a stated interest or mortgage insuranceMoney paid to insure the lender against loss due to foreclosure or loan default. Mortgage insurance premiumsPeriodic payment to keep an insurance policy in force.. This dollar amount is associated with a disclosure statementStatement of the actual cost of a loan, including the interest costs and the loan fee. used in compliance with the Truth-in-Lending ActFederal law which requires disclosure of a truth in lending statement for consumer loans. The statement.