The Minister for Budget and National Planning, Chief Udo Udoma, has said the Federal Government is yet to decide the size of the World
Bank loan it would apply for.
Make sure you understand all of terms of
the loan you have applied for, and ask your lender for an explanation for anything that confuses or concerns you.
This document gives you all of the details about
the loan you have applied for, including estimates for your interest rate, monthly payments and total closing costs.
When faced with a financial emergency, time is of an essence and it, therefore, becomes mandatory that one is able to get information instantly regarding the lender's decision on
a loan they have applied for.
Within the same three days, the lender is required, under the Truth in Lending Act, to provide you with a disclosure estimating the costs of
the loan you have applied for, including your total finance charge and the Annual Percentage Rate (APR).
A document called the Truth in Lending Disclosure Statement will show you the Annual Percentage Rate (APR) and other payment information for
the loan you have applied for.
A hard inquiry is when a lender pulls your credit report and reviews all of the lines of credit and
loans you've applied for.
Make sure you understand all of terms of
the loan you have applied for, and ask your lender for an explanation for anything that confuses or concerns you.
This document gives you all of the details about
the loan you have applied for, including estimates for your interest rate, monthly payments and total closing costs.