PRE-AGREEMENT TRUTH IN LENDING DISCLOSURE STATEMENT: SECTION 18 (1)
(This is neither a Contract nor a commitment to Lend)
Lender’s Name:
Applicant Prepared by:
Address:
Application No: Date Prepared:
ANNUAL PERCENTAGE RATE |
FINANCE CHARGE |
AMOUNT FINANCED |
TOTAL OF PAYMENTS |
The cost of your credit at a yearly rate % |
The amount the credit will cost you (specify currency and amount) US$/GH¢ |
The amount of credit provided to you or on your behalf US$/GH¢ |
The amount you will have paid after making all payments as scheduled US$/GH¢ |
REQUIRED DEPOSIT PAYMENTS: |
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Your payment schedule will be: |
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Number of Payments Amount of Payments When Payments Due |
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o DEMAND FEATURE: This obligation has a demand feature o VARIABLE RATE FEATURE: This loan contains a variable rate feature. A variable rate disclosure has been provided earlier. |
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INSURANCE: The folllowing insurance is required to obtain credit: o Credit life insurance o Credit disability o Property insurance o Flood insurance |
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You may obtain the insurance from anyone you want that is acceptable to creditor. If you purchase property, flood insurance from creditor, you will pay US$/GH¢ for a one year term. |
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SECURITY: You are giving a security interest in: o The goods or perperty being purchased o Real property you already own |
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FILING FEES: US$/GH¢ LATE CHARGE: If a payment is more than [ ] days late, you will be charged % PREPAYMENT: If you pay off early, you
|
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o will/will not have to pay a penalty of [ ] o may/may not be entitled to a refund of part of the finance charge. |