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Sample Document. Intended as reference only Your actual closing documents will vary according to the lending institution
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FEDERAL TRUTH-IN-LENDING DISCLOSURE STATEMENT (THIS IS NEITHER A CONTRACT NOR A COMMITMENT TO LEND) |
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Loan Number:123456 Date: June 5, 2001 Creditor: SAMPLE MORTGAGE CO. Address: 000 MAIN STREET, ANYWHERE, OHIO 22222 Borrower (s): FRED R. SAMPLE Address: 125 MAIN STREET, TIPP CITY, ,OHIO 45371 Lines containing and "X" re applicable: |
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| ANNUAL PERCENTAGE RATE
The cost of your credit as a yearly rate. 7.396% |
FINANCE CHARGE
The dollar amount the credit will cost you. $ 205,817.18 |
Amount Financed
The amount of credit provided to you or on your behalf. $ 137,996.84 |
Total of Payments
The amount you will have paid after you have made all payments as scheduled $ 334,814.02 |
Total Sale Price
The total cost of your purchase on credit including your down-payment of:
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| PAYMENTS: Your payment schedule will be: | ||||
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Number of Amount of Payments Payments Payment** Due on |
Number of Amount of Payments Payments Payment** Due on |
Number of Amount of Payments Payments Payment** Due on |
Monthly Beginning Monthly Beginning Monthly Beginning
359 955.05 08/01/01
1 951.07 07/01/31
____ DEMAND FEATURE: This obligation has a demand feature
_____ VARIABLE RATE FEATURE: Your loan contains a variable rate feature. Disclosures about the variable rate feature have been provided to you earlier.
Insurance: The following insurance is required to obtain credit:
_____ Credit life insurance and credit disability __X__ Property Insurance ____Flood Insurance ____ Private Mortgage Insurance You may obtain property from any insurer that is acceptable to the Lender.
Security: You are giving a security interest in: 125 MAIN STREET, TIPP CITY, OHIO 45371
____The goods or property being purchased X Real property you already own.
Filing Fee: $86.00
Late Charges: If payment is more that 15 days late, you will be charged 5.00 % of the payment.
Prepayment: If you pay off early, you
___May X will not have to pay a penalty.
___May X will not be entitled to a refund of part of the finance charge.
Assumption: Someone buying your property
___May ___May, subject to conditions X May not assume the remainder of your loan on the original terms.
See your contract document for any additional information about nonpayment, default, any required repayment in full before the scheduled date and prepayment refunds and penalties.
X "e" means an estimate ______ all dates and numerical disclosures except the late payment disclosures are estimates.
Each of the undersigned acknowledge receipt of a complete copy of this disclosure. The disclosure does not constitute a contract or a commitment to l end
_______________________________ ____________________________________ FRED R. SAMPLE (Date) (Applicant) (Date)
_______________________________ ____________________________________ (Applicant) (Date) (Applicant) (Date)
______________________________ ____________________________________ (Applicant) (Date) (Applicant) (Date)
**NOTE: Payment shown above do not include reserve deposits for taxes, assessments, and property or flood insurance.
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