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    howardb53's Avatar
    howardb53 Posts: 28, Reputation: 1
    New Member
    		  
    #1

    Apr 10, 2010, 04:25 AM
    Truth in lending
    We are purchasing a home and the company we are financing through is giving us 5 percent loan but on the truth of lending disclosure their showing annual percentage rate of 5.625 why is this and does this sound right thank you
    ScottGem's Avatar
    ScottGem Posts: 64,966, Reputation: 6056
    Computer Expert and Renaissance Man
    		  
    #2

    Apr 10, 2010, 04:52 AM

    The APR is a standard calculation mandated by law. This site shows how the APR is calculated and what goes into it.

    If you have a question about the disclosure document have you discussed it with your lender?
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