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face interest rate |
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face interest rate The interest rate shown on the face of a promissory note and used to calculate the monthly payments on a loan. In order to help borrowers compare apples to apples when shopping for a lender,the federal Truth in Lending Act requires lenders to reveal an annual percentage rate which includes the “face interest rate” plus the value of some closing costs and prepaid expenses. 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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