FINANCE CHARGE Definition

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FINANCE CHARGE is the total dollar amount your loan will cost you. It includes all interest payments for the life of the loan, any interest paid at closing, your origination fee and any other charges paid to the lender and/or broker. In real estate, appraisal, credit report and title search fees are normally not included in the finance charge calculation.

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INHERITANCE TAX is a tax charged on the passing of wealth from one person to another, either during life or at death.

CURRENT COUPON is the the coupon for a recently issued bond that reflects the prevailing level of interest rates, with the result that the bond is priced at or close to par value.

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