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ANNUAL PERCENTAGE RATE (APR)
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| A term
defined in Section 106 of the federal Truth in Lending Act. This is
not the note rate on your loan. It is a value created according to a
government formula intended to reflect the true annual cost of
borrowing, expressed as a percentage. Because you are using the same
payment on a smaller amount, the APR is always higher than the
actual note rate on your loan. |
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Simplicity
Mortgage - 6180
E. State Street, Suite #5 - Rockford, IL.
61108
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