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what is...
LOAN AMOUNT
The amount the borrower promises to repay, as set forth in the mortgage contract. It differs from the amount of cash disbursed by the lender by the amount of points and other upfront costs included in the loan.
ALSO SEE: LOAN-TO-VALUE RATIO, PRE-QUALIFICATION, 100% LOAN, BALANCE, POINT

    Courtesy of the Mortgage Glossary
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