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Finance Charge

Definition of "Finance charge"

Karin Gustafson
  Coldwell Banker Residential Brokerage - Orland / Palos

fee for the cost of a loan including interest and points. Points (1 point= 1% of the total loan) are advance charges for a mortgage, whereas interest in charge over the life of the mortgage. Interest and points add to the total cost of the loan.

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