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Loan Amount |
Also found in: Legal, Acronyms, Encyclopedia, Wikipedia, Hutchinson | 0.02 sec. |
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Loan Amount The amount the borrower promises to repay, as set forth in the loan contract. The loan amount may exceed the original amount requested by the borrower if he or she elects to include points and other upfront costs in the loan. How to thank TFD for its existence? Tell a friend about us, add a link to this page, add the site to iGoogle, or visit webmaster's page for free fun content. |
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The Home Ownership and Equity Protection Act of 1994 restricts credit terms such as "balloon payments" and requires additional disclosures when total points and fees payable by the consumer exceed the fee-based trigger (initially set at $400 and adjusted annually) or 8 percent of the total loan amount, whichever is larger. 5 million and raises the maximum loan amount from $250,000 to $350,000 for paperwork-friendly SBA Express loans. Small Business Administration once again guaranteed the greatest aggregate loan amount among the 70 SBA offices nationwide for the year ended Sept. |
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