Question:

Can I find the total lender fees in the Truth in Lending (TIL)?

Answer:

Yes. The total lender fees are listed on the Truth in Lending (TIL) - they are split in two:

  • Total lender fee in points - that is, loan origination points;
  • Total lender charges for loan-related services in dollars.

However, total lender charges are not particularly clear on the TIL. Rather, information is mixed and a little bit confusing.

For example, the TIL total lender charges are declared as Prepaid Finance Charges (points and closing costs combined). Also, the total cost of the loan is shown in

  • one single number (loan amount plus interest cost);
  • financed loan amount separately;
  • loan amount plus interest cost minus any prepaid charges.

Even though total lender fees and other useful mortgage information is included on the TIL, borrowers are more likely to be confused by the way numbers are represented.

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