Interest Rate and APR: You understand that the loan's interest rate and Annual Percentage Rate (APR) will be determined based on your creditworthiness, loan amount, loan term, and other relevant financial factors. Interest rates are subject to change based on market conditions and lender discretion.

  1. Loan Term: The loan term (e.g., 24, 36, or 60 months) will be determined based on your selected preference and the lender's available options. Your monthly payment amount will depend on the loan amount, interest rate, and loan term.

  2. Repayment Obligations: As the borrower, you are responsible for making all monthly payments by the due date specified in your loan agreement. Late payments may incur additional fees, affect your credit score, and result in potential default penalties.

  3. Fees and Penalties: You acknowledge that certain fees may apply, such as origination fees, late fees, or early repayment penalties. Please refer to your loan agreement for specific details on fees and potential penalties that may apply based on your repayment behavior.

  4. Purpose of Loan: This loan is intended for the purchase, renovation, or related expenses of a tiny home. By applying, you confirm the loan funds will be used as stated and not for any unauthorized purposes.

  5. Default and Collection: Failure to make payments as agreed may result in collection efforts by the lender, including referral to collections agencies and potential legal actions. Defaulting on this loan may have significant negative effects on your credit profile.

  6. Pre-Approval and Final Terms: Submission of this application is for pre-approval purposes, and final loan approval is subject to a thorough review of your submitted information, credit profile, and ability to repay the loan.

  7. Right to Cancel: You may cancel this application at any time before signing the final loan agreement. After signing, cancellation terms will be outlined by your specific lender's policies.

By continuing with this application, you affirm that you have reviewed and understood these terms and agree to them in full.