I haven't dealt with the total sale price section of Reg. Z for a long time so I'm a little uncertain of the elements of it. I've read Section 226.18(j) and I'm still a little shaky on whether any downpayment goes into the Total Sale Price total. Also, just to clarify, if a refinanced loan is being rolled into the credit sale transaction, that amount will also be included in the Total Sale Price box. Is my interpretation correct? Thanks in advance.

The down payment is listed in the Total Sales Price box and added to the Total of Payments to calculate the "Total Sales Price".

When refinancing a loan, the previous balance would be in the Amount Financed, which also carries over to the Total of Payments and subsequently into the Total Sales Price.

Let me say it another way: Finance Charge + Amount Financed = Total of Payments.
Total of Payments + Down payment = Total Sale Price.

Would someone please verify for me this calculation is correct for Total Sales Price?

FC = $20,041.68 + AF = $125,000 = TOP ($145,041.68)
TOP (145,041.68) + DP = $8,500 = Total Sales Price =($153,541.68)

We have a $200 origination fee which is prepaid and $500 attorneys fees which are not financed. Our calculator included the $500 atty fee for a TSP of $154,041.68. I don't think the $500 should have been included. Is that correct?

Thank you.

Anyone? Would really appreciate your help.

Your calculations (FC - - - TSP) is correct.

What are the attorney's fees for?

Title search but in some cases it could also include closing.

Closing "may" be a FC (refer to the Commentary of 226.4).

Ok - let's say this is a "lump sum" fee, this would be a PPFC, correct? In that case the $500 would not be included in the TSP, is that correct? I appreciate the help - just wanting to be sure we've got this calculating correctly.

Have you read the Commentary to §226.4(a)(2)#2 about Required Closing Agents? Title insurance is not a PPFC. If it is part of a lump sum fee, you may be able to exclude the closing agent fee.