Finance Charge

Your finance charge is the total of all the interest you would pay over the entire life of the loan, assuming you kept the loan to maturity, as well as all prepaid loan charges. Loan charges include origination fees, discount points, mortgage insurance, and other applicable charges. If the seller pays any of these charges, they cannot be included in the finance charge. If you pre-pay any principal during your loan, your monthly payments remain the same, but your total finance charge will be reduced.

Choose Another Letter Below