Terms Used In Texas Finance Code 347.101

• Credit transaction: means :
  (A) any sale, loan, or other transaction involving a retail purchase of a manufactured home and under which a person in a written agreement, including a credit sales contract or loan instrument, grants to another person a purchase money lien on the manufactured home to secure an extension of credit that is:
  (i) subject to a finance charge; or
  (ii) payable in more than four installments, not including a down payment; and
  (B) a lease or bailment described by § 347. See Texas Finance Code 347.002
• Interest rate: The amount paid by a borrower to a lender in exchange for the use of the lender's money for a certain period of time. Interest is paid on loans or on debt instruments, such as notes or bonds, either at regular intervals or as part of a lump sum payment when the issue matures. ^{Source: OCC}