Loan Comparison Template (APR, APRC, Total Cost)

Compare loan or mortgage offers: APR/APRC/EIR explained, amortisation formula, total cost, points break-even, rate stress test, fees, decision

Cá nhân & PKMĐầy đủRegulation Z (12 CFR 1026); Directive (EU) 2023/2225; Directive 2014/17/EUloan comparison mathCập nhật 24 thg 10, 2026

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Cách dùng: Use it when you hold two or more loan or mortgage offers and need to pick one on total cost rather than monthly payment. Fill your limits and the official disclosures (Loan Estimate, SECCI, ESIS) first, then the cost, holding-period and stress tests. The main pitfall is comparing offers for different amounts or terms, or a nominal APR with an effective APRC.

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Loan Comparison: [Loan purpose, for example home purchase or car]

A worksheet for comparing two or more loan or mortgage offers on what they really cost over the time you expect to keep the loan, not only on the monthly payment. It explains the interest rate, the annual percentage rate (APR), the annual percentage rate of charge (APRC) and the effective interest rate (EIR) in plain language, shows the standard amortisation formula, and walks through a fully recomputed example for the fictional household Drew and Casey Morgan, a renting couple buying their first home (separate from the Ellison household used in the other personal templates). It is based on the public disclosure rules that make offers comparable: US Regulation Z (12 CFR Part 1026, including the Loan Estimate), the EU Consumer Credit Directive (EU) 2023/2225 and the EU Mortgage Credit Directive 2014/17/EU. Replace every [bracketed] value and every row marked Example. This is a document format for organising your own information, not financial, tax, legal or credit advice. Obtain the law or the lender's official disclosure for the normative text.

Document control

Field	Value
Document ID	[LOAN-CMP-001]
Version	[0.1]
Status	[Draft / Offers collected / Decided / Closed]
Owner	[@borrower-1]
Approvers/reviewers	[@borrower-2], [optional adviser or trusted person]
Last updated	YYYY-MM-DD
Classification	Private (household)
Borrowers	[Name 1], [Name 2]
Loan purpose	[Home purchase / Refinance / Car / Education / Personal]
Currency and unit	[currency], amounts rounded to 2 decimals
Decision deadline	YYYY-MM-DD (earliest offer expiry or rate-lock end)
Jurisdiction	[Country or state], rules checked as of YYYY-MM

Approvals

Role	Name	Decision	Date
Borrower	[Name 1]	[Agree / Disagree]	YYYY-MM-DD
Co-borrower	[Name 2]	[Agree / Disagree]	YYYY-MM-DD
Reviewer (optional)	[Name]	[Comments given]	YYYY-MM-DD

Revision history

Version	Date	Author	Change
0.1	YYYY-MM-DD	[@borrower-1]	First draft with offers A and B
0.2 (Example)	2026-10-25	Drew Morgan	Added offer C and the rate stress test
1.0 (Example)	2026-10-30	Casey Morgan	Decision recorded, offer B accepted

Purpose and scope
Key terms in plain language
Your need and limits
Offers received
How the monthly payment is calculated
Total cost of credit
APR, APRC and effective rate compared
Holding period and points break-even
Rate-change stress test
Fees, insurance and conditions
Flexibility and early repayment
Lender, service and protection
Decision and reasons
Documents checklist
Local terms and rules
Review and follow-up
References
Standard and licence note

1. Purpose and scope

This comparison answers one question: which of the loan offers we hold costs us the least over the period we realistically expect to keep the loan, while still fitting our budget and our tolerance for payment changes. The lowest monthly payment and the lowest headline interest rate are often not the cheapest loan, because fees, discount points, insurance requirements, rate resets and early repayment charges change the total.

Item	Value
What we are financing	[Description]
Price or amount needed	[currency] [amount]
Own money available (down payment or deposit)	[currency] [amount]
Loan amount compared across all offers	[currency] [amount]
Term(s) considered	[years]
Expected holding period	[years] (how long we expect to keep this loan before selling, moving or refinancing)
Out of scope	[for example: refinancing existing student loans]

Example: Drew and Casey Morgan are buying a home priced at USD 375,000. They will put down USD 75,000 of savings and borrow USD 300,000 over 30 years. They expect to stay about 7 years before moving for work, so the 7-year cost matters more to them than the 30-year total.

2. Key terms in plain language

Term	What it means here
Principal	The amount you borrow and must pay back, before any interest.
Interest rate (nominal rate, borrowing rate)	The yearly percentage the lender charges on the outstanding balance. It does not include fees. A loan quoted at 6.25% with monthly payments charges 6.25% / 12 per month.
Amortising loan	A loan where each regular payment covers that period's interest plus part of the principal, so the balance reaches zero at the end of the term.
Term	The number of years (or payments) over which the loan is scheduled to be repaid.
Fees (closing costs, arrangement fees)	One-off charges for setting up the loan: origination, application, broker, valuation, legal and registration costs. Some count in the APR, some do not; the official disclosure says which.
Discount points	An upfront payment, usually quoted as a percentage of the loan (1 point = 1% of the loan amount), that buys a lower interest rate. Common in the US.
APR (annual percentage rate)	In the US, the yearly cost of credit including the interest rate and most required finance charges, calculated by a method set in Regulation Z. It is a nominal rate: the monthly rate multiplied by 12.
APRC (annual percentage rate of charge)	In the EU (and in the UK for many products), the total cost of credit to the consumer expressed as a yearly rate, calculated by a formula set in the consumer and mortgage credit directives. It is an effective annual rate, so compounding is included.
EIR (effective interest rate, effective annual rate)	The yearly rate once monthly compounding is taken into account. Some countries publish it as the official comparison figure under that name.
Flat rate	A rate applied to the original amount for the whole term, ignoring that the balance falls. It makes a loan look cheaper than it is (see section 7).
Total cost of credit	Everything you pay to borrow: total interest plus all fees and required charges. It excludes the principal.
Fixed rate	A rate that cannot change for a stated period.
Variable or adjustable rate	A rate that can change, usually tied to a reference index plus a margin, often after an initial fixed period.
Early repayment charge (prepayment penalty)	A fee for paying off all or part of the loan ahead of schedule.
Loan-to-value (LTV)	Loan amount divided by the value of the property or asset, as a percentage. Higher LTV usually means a higher rate or required insurance.
Rate lock	A lender's promise to hold a quoted rate until a date.

3. Your need and limits

Write down what you can afford and how much uncertainty you can live with. A lender approval only tells you what the lender is willing to lend; it does not tell you what fits your other goals.

ID	Limit	Our value	Where it comes from
LIM-001	Maximum total monthly housing or loan payment	[currency] [amount]	Budget (`personal/budget`)
LIM-002	Maximum payment we could survive if the rate rose	[currency] [amount]	Budget, stress column
LIM-003	Maximum upfront cash for fees and points	[currency] [amount]	Savings after down payment and emergency fund
LIM-004	Emergency fund that must stay untouched	[months] of essential costs	Emergency Fund Plan (`personal/emergency-fund-plan`)
LIM-005	Preferred rate type	[Fixed / Variable / Either]	Our tolerance for payment changes
LIM-006	Expected holding period	[years]	Life plans
LIM-001 (Example)	Maximum monthly principal and interest	USD 1,900	Morgan budget, current rent plus planned savings shift
LIM-002 (Example)	Maximum stressed payment	USD 2,100	Morgan budget with holidays and dining cut
LIM-003 (Example)	Maximum upfront cash for fees and points	USD 8,000	Savings after the USD 75,000 down payment
LIM-004 (Example)	Emergency fund kept separate	6 months of essential costs	Household rule
LIM-006 (Example)	Expected holding period	7 years	Planned relocation

4. Offers received

Enter one row per offer. Leave a cell blank only if the lender confirms the item does not apply, and write "n/a" in that case.

ID	Lender	Product	Amount	Term	Rate type	Interest rate	Points	Fees	Disclosed APR or APRC	Prepayment charge	Offer date	Expires
OFR-[NNN]	[Lender name]	[Product name]	[currency] [amount]	[years]	[Fixed / Variable]	[%]	[%]	[currency] [amount]	[%]	[Yes, terms / No]	YYYY-MM-DD	YYYY-MM-DD
OFR-001 (Example)	Lender A (fictional)	30-year fixed	USD 300,000	30	Fixed	6.250%	0	USD 4,500	[as disclosed]	No	2026-10-20	2026-11-19
OFR-002 (Example)	Lender B (fictional)	30-year fixed with 1 point	USD 300,000	30	Fixed	5.875%	1 (USD 3,000)	USD 4,500	[as disclosed]	No	2026-10-21	2026-11-05
OFR-003 (Example)	Lender C (fictional)	5-year fixed, then variable	USD 300,000	30	Variable after 60 months	5.500% initial	0	USD 4,000	[as disclosed]	No	2026-10-22	2026-11-12

Write the disclosed APR or APRC exactly as printed on the official form. Section 7 shows a simplified recomputation, which can differ from the official figure because the lender includes or excludes specific charges under the rules of your country.

5. How the monthly payment is calculated

For a standard amortising loan with a fixed rate and equal monthly payments, the payment is:

M = P \cdot \frac{i}{1 - (1 + i)^{-n}}

where $M$ is the monthly payment of principal and interest, $P$ is the loan amount, $i$ is the monthly interest rate (the yearly nominal rate divided by 12) and $n$ is the number of monthly payments (years times 12).

The balance still owed after $k$ payments is:

B_k = P (1 + i)^{k} - M \cdot \frac{(1 + i)^{k} - 1}{i}

Use the balance formula to find what you would still owe when you expect to sell or refinance.

Offer	$P$	Yearly rate	$i$	$n$	Monthly payment $M$
OFR-[NNN]	[amount]	[%]	[rate / 12]	[months]	[amount]
OFR-001 (Example)	300,000	6.250%	0.0052083	360	1,847.15
OFR-002 (Example)	300,000	5.875%	0.0048958	360	1,774.61
OFR-003 (Example)	300,000	5.500% (first 60 months)	0.0045833	360	1,703.37

Rounding convention: the example figures in this document are computed with the unrounded payment and rounded to cents only at the end, so multiplying the rounded payment by the number of months can differ by a few cents. All three example payments fit LIM-001 (USD 1,900). The payment shown is principal and interest only; property tax, home insurance and any mortgage insurance come on top and belong in your budget.

6. Total cost of credit

Total cost of credit over the full term, if you keep the loan to the end and the rate never changes:

\text{Total cost} = M \cdot n - P + F

where $F$ is all upfront fees and points.

Offer	Total of payments	Total interest	Fees and points $F$	Total cost of credit
OFR-[NNN]	[amount]	[amount]	[amount]	[amount]
OFR-001 (Example)	664,974.58	364,974.58	4,500.00	369,474.58
OFR-002 (Example)	638,860.78	338,860.78	7,500.00	346,360.78
OFR-003 (Example), rate held at 5.500%	613,212.12	313,212.12	4,000.00	317,212.12

Read OFR-003 with care: its full-term total assumes the rate stays at 5.500% for 30 years, which the contract does not promise. Section 9 tests what happens when it changes.

List here any recurring charges that the formula above does not capture:

ID	Offer	Recurring charge	Amount per year	Required?
CHG-[NNN]	OFR-[NNN]	[Account fee / Required insurance / Servicing fee]	[amount]	[Yes / No]
CHG-001 (Example)	OFR-003	Required current account with the lender	USD 0 if salary is paid in, else USD 120	Yes

7. APR, APRC and effective rate compared

All three comparison figures try to express the full cost as one percentage, but they differ in method:

US APR (Regulation Z) finds the monthly rate at which the money you actually receive (the loan minus prepaid finance charges) equals the present value of all your payments, then multiplies it by 12. It is a nominal yearly rate. For US mortgages, some closing costs (for example title, appraisal and recording fees) are excluded from the finance charge by 12 CFR 1026.4(c)(7), so a rate that counts every fee, like the APR-style rate below, can be higher than the APR disclosed on the Loan Estimate.
EU APRC sets the present value of all amounts drawn equal to the present value of all repayments and charges, using a yearly rate with compounding. It is an effective yearly rate, so for the same loan it is slightly higher than a nominal APR.
EIR converts a nominal rate into its effective yearly equivalent:

\text{EIR} = \left(1 + \frac{r}{12}\right)^{12} - 1

The simplified cost rate used below treats all fees and points as reducing the money received:

P - F = \sum_{t=1}^{n} \frac{M}{(1 + x)^{t}}, \qquad \text{APR-style rate} = 12x, \qquad \text{effective rate} = (1 + x)^{12} - 1

Offer	Nominal rate	EIR of the nominal rate	APR-style rate with fees	Effective rate with fees
OFR-[NNN]	[%]	[%]	[%]	[%]
OFR-001 (Example)	6.250%	6.432%	6.394%	6.584%
OFR-002 (Example)	5.875%	6.036%	6.111%	6.285%
OFR-003 (Example), rate held	5.500%	5.641%	5.622%	5.769%

These recomputed figures are illustrative. They spread the fees over the full 30-year term, which flatters loans with high upfront costs if you expect to repay early. Section 8 corrects for that.

Flat-rate warning. Some lenders, especially for cars and personal loans, quote a flat rate: interest is charged on the original amount for the whole term. Example: a USD 20,000 car loan at a 5% flat rate over 3 years charges 20,000 x 5% x 3 = USD 3,000 of interest, so 36 payments of USD 638.89. Because the balance actually falls every month, the equivalent reducing-balance rate is about 9.31% nominal (about 9.72% effective). Always ask for the APR, APRC or EIR on the official form.

8. Holding period and points break-even

If you expect to sell, move or refinance before the end of the term, compare the cost up to that date: interest paid until then plus all upfront fees and points.

\text{Cost to month } k = \left( M \cdot k - (P - B_k) \right) + F

Offer	Months held $k$	Balance owed $B_k$	Interest paid to month $k$	Fees and points	Cost to month $k$
OFR-[NNN]	[months]	[amount]	[amount]	[amount]	[amount]
OFR-001 (Example)	84	270,100.77	125,261.51	4,500.00	129,761.51
OFR-002 (Example)	84	268,313.75	117,381.26	7,500.00	124,881.26
OFR-003 (Example), rate held at 5.500% for all 84 months (see section 9 for reset risk)	84	266,447.66	109,530.49	4,000.00	113,530.49

Break-even for points: divide the extra upfront cost by the monthly saving.

\text{Break-even months} = \frac{\text{Extra upfront cost}}{M_{\text{higher rate}} - M_{\text{lower rate}}}

Example: OFR-002 costs USD 3,000 more upfront than OFR-001 and saves 1,847.15 - 1,774.61 = USD 72.54 per month. Break-even is 3,000 / 72.54 = 41.4 months, so about 3.5 years. The Morgans expect to stay 7 years, so the point pays for itself. This simple count ignores the interest you could earn on the USD 3,000 and the slightly faster principal reduction on the lower rate; for a precise view use the cost-to-month table above, which already includes both.

9. Rate-change stress test

For a variable loan, find the balance at the reset date with the balance formula, then recompute the payment for the remaining months at higher rates. Read the contract for caps (the most the rate can rise at each reset and over the life of the loan) and for the index and margin that set the new rate.

ID	Offer	Reset month	Balance at reset	Stressed rate	New payment	Within LIM-002?
STR-[NNN]	OFR-[NNN]	[month]	[amount]	[%]	[amount]	[Yes / No]
STR-001 (Example)	OFR-003	61	277,381.81	6.500% (+1.0 pp)	1,872.90	Yes
STR-002 (Example)	OFR-003	61	277,381.81	7.500% (+2.0 pp)	2,049.83	Yes, barely
STR-003 (Example)	OFR-003	61	277,381.81	8.500% (+3.0 pp)	2,233.55	No

Example reading: if OFR-003 reset to 7.500% after 5 years and stayed there, total interest over 30 years would be about USD 417,150, more than either fixed offer. A 3-point rise breaks the household limit. The Morgans decide the lower starting payment is not worth the risk for them, even though it is the cheapest offer if rates do not rise.

Other stress questions to answer in writing:

What is the contract's rate cap at the first reset and over the life of the loan?
Is there a payment shock warning on the official form?
If the loan is in a currency other than your income, what happens to the payment if the exchange rate moves by 20%? (In the EU, the Mortgage Credit Directive Article 23 requires a framework for foreign currency loans; ask what conversion right applies.)

10. Fees, insurance and conditions

ID	Offer	Condition or charge	Amount or detail	In the APR or APRC?	Can we shop for it?
FEE-[NNN]	OFR-[NNN]	[Origination / Valuation / Legal / Registration / Broker / Mortgage insurance / Life or payment protection insurance / Account]	[amount]	[Yes / No / Unknown]	[Yes / No]
FEE-001 (Example)	OFR-001	Origination and underwriting	USD 2,700	Yes	No
FEE-002 (Example)	OFR-001	Appraisal, title and recording	USD 1,800	Partly	Partly
FEE-003 (Example)	OFR-002	Discount point (1%)	USD 3,000	Yes	No
FEE-004 (Example)	All	Home insurance	About USD 1,400 per year	No	Yes

Questions to ask each lender:

Which fees are refundable if the loan does not complete?
Is any insurance required, and may we buy it from another provider? (The EU consumer credit rules in Directive (EU) 2023/2225 Article 14 address tying and bundling practices; local rules vary.)
Does the rate depend on keeping another product with the lender?
How long is the rate lock, and what does an extension cost?

11. Flexibility and early repayment

ID	Offer	Overpayment allowed	Early repayment charge	Portable to a new home	Payment holiday or hardship options	Notes
FLX-[NNN]	OFR-[NNN]	[Free up to x% per year / Unlimited / Not allowed]	[Terms]	[Yes / No]	[Terms]	[Notes]
FLX-001 (Example)	OFR-001	Unlimited	None	No	Lender hardship programme on request
FLX-002 (Example)	OFR-002	Unlimited	None	No	Lender hardship programme on request
FLX-003 (Example)	OFR-003	Unlimited	None	No	Not stated, asked on 2026-10-23

In the EU, both Directive (EU) 2023/2225 (Article 29) and Directive 2014/17/EU (Article 25) give consumers a right to repay early, with a reduction in the remaining cost; member states set whether and how the lender may charge compensation. In the US, Regulation Z limits prepayment penalties on many mortgages and requires them to be shown on the Loan Estimate. Check the exact rule for your loan type and country.

12. Lender, service and protection

ID	Offer	Lender licensed or regulated by	Complaints and dispute route	Who services the loan after closing	Responsiveness so far	Score 1 to 5
SVC-[NNN]	OFR-[NNN]	[Regulator and licence number]	[Ombudsman or regulator]	[Same lender / Transferred]	[Notes]	[score]
SVC-001 (Example)	OFR-002	State-licensed lender (fictional record)	Lender complaints team, then national regulator	Same lender for at least 12 months (stated in writing)	Replied within one business day	4

Check the lender's registration on the regulator's public register before sharing documents. Never send identity documents by unencrypted email to an address you did not verify.

13. Decision and reasons

Field	Value
Decision ID	DEC-[NNN]
Chosen offer	OFR-[NNN]
Decision date	YYYY-MM-DD
Main reasons	[Lowest cost over holding period / Payment certainty / Flexibility]
Rejected offers and why	[OFR-NNN: reason]
Accepted risks	[For example: we pay more if rates fall and we cannot refinance]
What would make us revisit	[Rate drop of x pp, move earlier than planned]
Next step and owner	[Lock rate / Submit application], [@owner], YYYY-MM-DD

Example: DEC-001, 2026-10-30. The Morgans choose OFR-002. Over their expected 7 years it costs USD 4,880.25 less than OFR-001 (129,761.51 minus 124,881.26), the payment of USD 1,774.61 fits LIM-001, and it carries no reset risk. OFR-003 would be USD 11,350.77 cheaper over 7 years (124,881.26 minus 113,530.49) only if its rate stayed at 5.500% after month 60; they reject it because a 3-point rise at the reset would break LIM-002, and they judge that saving too small for that risk. They accept OFR-002 on 2026-10-30, before its 2026-11-05 offer expiry, and lock the rate for 30 days to 2026-11-29, which covers the planned closing on 2026-11-20. They will look at refinancing if market rates fall enough that a new loan's costs break even within 3 years.

Traceability from limits to decision:

Limit	OFR-001	OFR-002	OFR-003
LIM-001 payment (Example)	Pass	Pass	Pass
LIM-002 stressed payment (Example)	Pass (fixed)	Pass (fixed)	Fails at +3 pp
LIM-003 upfront cash (Example)	Pass (4,500)	Pass (7,500)	Pass (4,000)
LIM-006 7-year cost (Example)	129,761.51	124,881.26	Depends on reset

14. Documents checklist

ID	Document	Who provides it	Status
DOC-001	Official disclosure for each offer (Loan Estimate, SECCI, ESIS or local equivalent)	Lender	[Received / Pending]
DOC-002	Proof of identity and address	Borrowers	[Ready]
DOC-003	Proof of income (pay slips, tax returns, business accounts for self-employed)	Borrowers	[Ready]
DOC-004	Bank statements for the period the lender asks	Borrowers	[Ready]
DOC-005	List of existing debts with balances and payments	Borrowers	[Ready]
DOC-006	Purchase contract or quote for the item financed	Seller	[Ready]
DOC-007	Valuation or appraisal report	Lender or valuer	[Ordered]
DOC-008	Insurance quotes required by the lender	Insurer	[Pending]
DOC-009	Final disclosure before signing (Closing Disclosure in the US, binding offer in the EU) compared line by line with DOC-001	Lender	[Pending]

In the US, the lender must deliver or mail the Loan Estimate no later than the third business day after receiving your application (12 CFR 1026.19(e)), and you must receive the Closing Disclosure no later than three business days before consummation (12 CFR 1026.19(f)). Compare the two forms and ask about every change.

15. Local terms and rules

Names only, as of 2026-10. Examples, not exhaustive, not advice. Check local rules.

Jurisdiction	Official cost figure	Official pre-contract form	Main rules (names)
United States	APR	Loan Estimate and Closing Disclosure (mortgages); Truth in Lending disclosures (other credit)	Truth in Lending Act, Regulation Z (12 CFR Part 1026)
European Union, consumer credit	APRC	Standard European Consumer Credit Information (SECCI), Annex I of Directive (EU) 2023/2225	Directive (EU) 2023/2225, applying from 2026-11-20; national law transposing Directive 2008/48/EC applies until then and continues for agreements existing on that date; check whether your member state has transposed it on time
European Union, mortgages	APRC	European Standardised Information Sheet (ESIS), Annex II of Directive 2014/17/EU	Directive 2014/17/EU as transposed nationally
United Kingdom	APR (consumer credit), APRC (mortgages)	Pre-contract credit information; mortgage illustration	FCA Handbook sourcebooks CONC and MCOB (names only). The UK consumer-credit APR is an effective annual rate, calculated like the EU APRC, not a nominal rate like the US APR
Australia	Comparison rate	Key facts sheet	National Consumer Credit Protection Act 2009 (name only)
Other	[Name of figure]	[Name of form]	[Law name], check local rules

16. Review and follow-up

ID	Trigger or date	What to check	Owner
REV-001	First statement after closing	Payment, rate and balance match the final disclosure	[@owner]
REV-002	Every 12 months	Market rates versus our rate; overpayment capacity	[@owner]
REV-003	6 months before any reset date	New rate, payment and refinancing options	[@owner]
REV-004	Change in income or household	Whether LIM-001 and LIM-002 still hold	[@owner]
REV-001 (Example)	2026-12-15	First payment USD 1,774.61 confirmed	Casey Morgan

17. References

US Regulation Z (Truth in Lending), 12 CFR Part 1026, in particular 1026.4 (finance charge), 1026.19(e) and (f) (mortgage disclosure timing), 1026.22 (determination of the APR, with the 1/8 and 1/4 percentage point accuracy tolerances) and 1026.37 (Loan Estimate content), eCFR, checked 2026-10-25.
Consumer Financial Protection Bureau, "What is a Loan Estimate?" consumer page, checked 2026-10-25.
Directive (EU) 2023/2225 of 18 October 2023 on credit agreements for consumers, OJ L 2023/2225, 30.10.2023: Article 10 (pre-contractual information), Article 14 (tying and bundling), Article 26 (right of withdrawal, 14 calendar days), Article 29 (early repayment), Article 30 and Annex III (APRC), Articles 47 and 48 (repeal and application from 2026-11-20).
Directive 2014/17/EU of 4 February 2014 on credit agreements for consumers relating to residential immovable property: Article 14 and Annex II (ESIS; Article 14(6) period of at least seven days to compare), Article 17 and Annex I (APRC), Article 18 (creditworthiness), Article 23 (foreign currency loans), Article 25 (early repayment).
Related templates: Major Purchase Plan (personal/major-purchase-plan), Debt Payoff Plan (personal/debt-payoff-plan), Budget (personal/budget), Financial Plan (personal/financial-plan).

Standard and licence note

Based on US Regulation Z (12 CFR Part 1026, a US federal work in the public domain), Directive (EU) 2023/2225 and Directive 2014/17/EU (EUR-Lex, reuse with acknowledgement; source: EUR-Lex, https://eur-lex.europa.eu). Sections and articles are cited by number and described in original words; no form wording is reproduced. The amortisation, APR-style and break-even formulas are standard mathematics. The households, lenders and figures are fictional. This template is original text written for this collection and is not financial, tax, legal or credit advice. Check the current official version of each law and your lender's official disclosures before use. Template licence: MIT.

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