Rates & Fees

Product overview (may vary by lender and state)

Illustrative payment examples

The table below shows hypothetical fully amortizing installment loans with fixed APRs and equal monthly payments. Your actual payment amount, APR, fees, and total cost may differ. Rounding may cause minor differences in totals.

Important: These examples assume no origination fees, no optional products, and no prepayment or late fees. If your lender charges an origination fee, it may be deducted from proceeds or financed, which changes the amount you receive and the APR.

Fees you may see

Depending on the lender and state law, you may encounter one or more of the following categories of charges. Only the disclosures and contract provided at the time of your loan offer will list the fees that apply to your transaction.

• Origination or administrative fees: One-time or percentage-based fees to process the loan.
• Interest charges: Stated as an APR and accrue according to your promissory note.
• Non-sufficient funds (NSF) / returned payment fees: If a payment is returned by your bank.
• Late payment fees: If a payment is not received by the due date.
• Prepayment: Some lenders may impose prepayment penalties; others do not—check your agreement.

Understanding APR

The Annual Percentage Rate (APR) expresses the cost of credit as a yearly rate, including certain finance charges as required by Regulation Z. A higher APR generally means a higher cost of borrowing over the life of the loan. The APR may differ from the simple interest rate because it can include certain fees and reflects the timing of payments.

Factors that commonly affect your APR include credit history, debt-to-income ratio, employment stability, loan amount, state of residence, and the lender’s underwriting model. Shopping for a loan and comparing APRs and fee schedules can help you identify a competitive offer.

Truth in Lending and disclosures

Before you enter into a binding loan agreement, your lender should provide disclosures required by federal and state law, which may include a Truth in Lending disclosure, itemization of amount financed, payment schedule, finance charge, and total of payments. Read carefully and retain copies for your records.

Questions about your specific loan

For questions about your loan balance, payoff amount, due dates, or payment methods, contact your lender directly using the customer service information in your loan documents. LUMEN LOAN PROCESSING, LLC cannot access or modify your loan account with a third-party lender.

Contact