construction costs considered a finance charge
If No, then the finance charge shall be considered accurate if it is not more than $5 above or below the exact finance charge in a transaction involving an amount financed of $1,000 or less, or not more than $10 above or below the exact finance charge in a transaction involving an amount financed of more than $1,000.n overstated finance charge is not considered a violation. However, if answer to the second question is No, then a third question must be asked 'Is the transaction a refinancing?' If No, then finance charge tolerance is one-half of 1% of the loan amount or $100, whichever is greater.