Hubby and I are closing on a house and we were previously given a TIL disclosure statement back in Oct. The APR was 3.95%. WE got another one recently, and the APR has risen to 4.0165% with a finance charge that is about $3,000 higher than what it was in the previouse Truth in Lending disclosure statement. I tried to compare the two and the figures that are different are mainly the amount of seller-paid finance charges applied in prepaid finance charges section. i think this is what made the difference. I tried to research on this matter and got two conflicting answers. One says that the APR doesn't really matter because it's only there to help to compare between two loans. The other answer basically says that the lender is screwing us and adding more fees. I don't know which one to believe. Anyone who is an expert in this area can help me? Thanks!
why is my apr in my TIL disclosure statment higher than previously stated?
- Thread starter Diana
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