In terms of the Truth in Lending Act, the amount financed is the entire loan amount minus all lender fees, which are paid at closing (known as "prepaid finance charges"). For example, if someone borrows a loan of $90,000 and he or she pays the lender $3,000 in fees, the amount financed ends up being $87,000.
Related information about amount financed:
- Amount Financed Definition | Investopedia
The actual amount of credit made available to a borrower in a loan, as defined by Regulation Z disclosure requirements of the Truth In Lending Act. Specifically, ...
- What is amount financed? definition and meaning
Definition of amount financed: In terms of the Truth in Lending Act, the amount financed is the entire loan amount minus all lender fees, which are paid at closing ...
- How to Calculate an Amount to Be Financed: 8 steps - wikiHow
Aug 13, 2012 ... 4. Review the final balance. This is the amount financed for your mortgage. The amount financed is used to calculate your interest rate and the ...
- Amount Financed: Definition from Answers.com
Amount Financed Credit or advance actually made available to a borrower, repayable according to terms of the loan.
- Truth In Lending Explained
A. The APR is computed from the Amount Financed and based on what your proposed ... Since the APR is based on the Amount Financed ($48,000), while the ...
- amount financed Definition | Business Dictionaries from AllBusiness ...
credit or advance actually made available to a borrower, repayable according to terms of the loan. It is equal to the loan principal less any prepaid finance ...
- Amount Financed - Financial Dictionary - The Free Dictionary
The amount a borrower receives from a lender. The amount financed is usually equal to the principal less any finance charges, such as an application fee or ...
- Amount Financed - Mortgage Glossary | Quicken Loans
Amount Financed definition from the mortgage glossary at QuickenLoans.com. Learn mortgage terms and jargon with the Quicken Loans Mortgage Glossary.