Business and Personal Finance Dictionary

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• AMOUNT FINANCED
  
  The amount applied for less the prepaid finance charges. Prepaid finance charges can be found on the Good Faith Settlement Statement (HUD1 or HUD1A). For example, if the borrower's Note is for $100,000 and the prepaid finance charge total is $5,000, the Amount Financed would be $95,000. The Amount Finance is the amount on which the Annual Percentage Rate (APR) is calculated.
  
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