Federal Truth-In-Lending Disclosure Statement
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1FEDERAL TRUTH-IN-LENDING DISCLOSURE STATEMENT
(THIS IS NEITHER A CONTRACT NOR A COMMITMENT TO LEND)
Applicants:
Prepared By:
Property Address:
Application No:
Check box if applicable:
Date Prepared:
You are not required to complete this agreement merely because you have received these disclosures or signed a loan application.
There is no guarantee that you will be able to refinance to lower your rate and payments.
ANNUAL PERCENTAGE
FINANCE
AMOUNT
TOTAL OF
RATE
CHARGE
FINANCED
PAYMENTS
The cost of your credit as a
The dollar amount the credit will
The amount of credit provided to
The amount you will have paid
yearly rate
cost you
you or on your behalf
after making all payments as
scheduled
%
INTEREST RATE
%
$
$
$
REQUIRED DEPOSIT: The annual percentage rate does not take into account your required deposit
INTEREST RATE AND PAYMENT SUMMARY
Rate & Monthly Payment
Interest Rate
______%
Principal + Interest Payment
$__________
Est. Taxes + Insurance (Escrow)
$__________
Total Est. Monthly Payment
$__________
DEMAND FEATURE: This obligation has a demand feature.
VARIABLE RATE FEATURE:
This loan contains a variable rate feature. A variable rate disclosure has been provided earlier.
CREDIT LIFE/CREDIT DISABILITY: Credit life insurance and credit disability insurance are not required to obtain credit, and will not be
provided unless you sign and agree to pay the additional cost.
Type
Premium
Signature
Credit Life
I want credit life insurance
X
Credit Disability
I want credit disability insurance
X
Credit Life and Disability
I want credit life and disability insurance
X
INSURANCE: The following insurance is required to obtain credit:
Credit life insurance
Credit disability
Property insurance
Flood insurance
You may obtain the insurance from anyone you want that is acceptable to creditor
If you purchase
property
flood insurance from creditor you will pay $
for a one year term.
SECURITY: You are giving a security interest in:
The goods or property being purchased
Real property you already own.
FILING FEES:
LATE CHARGE: If a payment is more than
days late, you will be charged
OF
PREPAYMENT: If you pay off early, you
may
will not
have to pay a penalty.
may
will not
be entitled to a refund of part of the finance charge.
ASSUMPTION: Someone buying your property
may
may, subject to conditions
may not
assume the remainder of your loan on the original terms.
See your contract documents for any additional information about nonpayment, default, any required repayment in full before the scheduled
date and prepayment refunds and penalties
* means an estimate
all dates and numerical disclosures except the late payment disclosures are estimates.
THE UNDERSIGNED ACKNOWLEDGE RECEIVING A COMPLETED COPY OF THIS DISCLOSURE.
(Applicant)
(Date)
(Applicant)
(Date)
(Applicant)
(Date)
(Applicant)
(Date)
(Lender)
(Date)
** NOTE: PAYMENTS SHOWN ABOVE DO INCLUDE RESERVE DEPOSITS FOR MORTGAGE INSURANCE (IF APPLICABLE) BUT NOT PROPERTY TAXES OR INSURANCE.
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