With many companies, their advertised interest rate can differ from the actual annual percentage rate because of various fees and charges. We tend to keep things simple. Because we have no extra fees or charges of any kind the interest rate we advertise IS the actual annual percentage rate.
Below you will see four different Truth-In-Lending Statements: Each one represents a different down payment and therefore a different interest rate. These are sample Truth-In-Lending Statements with a purchase price of $19,500.00. The Truth-In-Lending Statements you receive will reflect the purchase price of which ever property you have chosen.
For the sample statements below we start with the minimum down payment of $500.00 which corresponds to the 9 3/4% interest rate. The second statement will be with $1,500.00 down and an annual interest rate of 7 3/4%. The third statement will be with $2,500.00 down and an annual interest rate of 6 3/4%. The fourth statement will be with $5,000.00 down and an annual interest rate of 5 3/4%.
If you pay extra one or more months or if you pay off your property early, the amount of interest you pay will be reduced.
If you have any questions about the Truth-In-Lending Statements please send us an email or give us a call.
We are available anytime via email at email@example.com. We are available by phone, Monday through Friday at (417) 882-3400.