Amount Financed
You’ve taken the plunge and purchased your first house. There is a pile of documents about a mile high that you need to sign at the closing, and one of them is the “loan calculations” listed under Closing Disclosure. It will show the full amount you are borrowing, less the upfront fees the lender is charging you.
For example, if you have a $200,000 loan, but the lender is charging you $5,000 in points and other fees, the official “amount financed” would be $195,000. You would pay the $5,000 at closing, and the balance will determine how much your interest rate and monthly payments will be. You can also choose to finance your points and fees over the life of the loan.
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Finance: What is a Breakup Fee?1 Views
Finance a la shmoop... what is a breakup fee? Isn't this what Taylor Swift wanted [Taylor Swift on the red carpet]
to charge the Biebs or was that the weekend and what were mr. and mrs.
weekend thinking when they named him The anyway..wait is this supposed to
be about Selena and whatever maybe not well in corporate suitorship there's
the same kind of you know tit for tat that is cantaloupe wants to acquire [Cantaloupe and a grape appear]
grape for a hundred million bucks but cantaloupe is worried that grape will
want to sew her seeds with you know other suitors there's the watermelon
wuzzle the pumpkin press and the squash squash well cantaloupe feels like it's [Cantaloupe with $100m]
paying a full price in the hundred million dollars it has offered but it's
worried about idiots meaning everyone who doesn't agree with it or isn't
aligned with cantaloupe yeah they're by definition an idiot according to [Man holding out a cantaloupe]
cantaloupe well that is a financially irrational other suitors who might want
to pay a hundred five million or a hundred ten million or a hundred fifteen
million dollars so as part of the term sheet that gives grape thirty days to[Term sheet appears]
fully sign or commit and be done well, grape has to pay cantaloupe a breakup
fee if grape decides to go with someone else who wants to buy her that breakup
fee is a fee for breaking up the deal between cantaloupe and grape and it
might be something like 10 percent of the deal and this is really important
because then if pineapple wants to buy grape [Pineapple appears with cantaloupe and a grape]
well pineapple will not only have to pay meaningfully more than the hundred
million dollars of cantaloupe but it'll have to pay grape the breakup fee as
well making the total cost of the deal the pineapple well you know pretty
prickly...
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