If you told it that it is a construction loan, the you should have to answer questions about the construction period. This should then compute the construction interest for the finance charge in accordance with Appendix D of Reg. Z. If you enter interest only payment in the finance charge, the finance charge and APR will double-count the construction period interest.
Last edited by Reads Regs; 01/22/16 10:16 PM.
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Opinions expressed are my own and not necessarily those of my employer. They are not legal advice.