Back to Glossary
Finance Charge
Updated
January 19, 2023
A finance charge is levied for using a credit or extending current credit. It could be a flat cost or a proportion of the amount borrowed, with the most frequent percentage-based finance charges. A finance charge is frequently an aggregated cost that includes the cost of carrying the debt and any related transaction fees, account management fees, or late fees levied by the lender.
Related Topics
10 Best Home Builders in Nashville, TN: Find Your Dream Home Today
Wesley Mortgage 2023 Year-In-Review
What Is a Property Tax Lien
What Is an Adjustable Rate Mortgage (ARM)?
Navigating the Process of Mortgage Modification
What Is Non-Recourse Lending?
What Is a Short Sale?
When Is the First Mortgage Payment Due?