In this chapter, the following terms have the meanings indicated. Terms Defined. “Actual change in value” means, with respect to each scenario included on the disclosure form found in Appendix A of this chapter, the average annual change in value for homes in the State of Maryland over the most recent number of years used in that scenario. “Annual percentage rate” has the meaning stated in 12 CFR §1026.22(a), as amended from time to time. “Annualized cost” means a measure of the cost of credit, expressed as a yearly rate, provided to allow a borrower to compare the cost of a shared appreciation agreement with the cost of other forms of credit. “Arms-length sale” means a transaction for the sale of property between two unrelated and unaffiliated parties of equal bargaining power acting independently and in their respective self-interests. “Automated valuation model” or “AVM” means a statistically based estimate of a property’s value based on publicly available information such as comparable sales, property characteristics, and price trends. “Borrower” means a person who receives funds under a shared appreciation agreement. “Broker price opinion” or “BPO” means an estimate, provided by a real estate broker licensed by the State or another qualified professional, of the price for which a property is likely to sell. “Commitment” has the meaning stated in Commercial Law Article, §12-922, Annotated Code of Maryland. “Estimated fair market value” means: An estimate of value determined through either the use of an appraisal from an appraiser licensed by the State or the use of an automated valuation model or broker price opinion; or An estimate of value provided by the borrower, if a disclosure is provided before the lender obtains an appraisal, automated valuation model, or broker price opinion. “Final payment amount” means the amount a borrower will be required to pay the lender at the termination of the shared appreciation agreement. “Final value” means the value of the property at the termination of the shared appreciation agreement as calculated using the estimated fair market value of the property, or, in an arms-length sale, the sale price of the property. “Financing agreement” has the meaning stated in Commercial Law Article, §12-922, Annotated Code of Maryland. “Lender” means a person who makes a mortgage loan under a shared appreciation agreement. “Share based repayment amount” means the lender’s share of the property’s appreciation or value at the termination of the shared appreciation agreement as calculated without regard to any contractual limit on the repayment amount. “Shared appreciation agreement” has the meaning stated in Financial Institutions Article, §11-501(r), Annotated Code of Maryland. “Starting value” means the estimated fair market value of a property minus any discount applied by the lender. “Truth in Lending Act” refers to 15 U.S.C. 1601, et seq., and its implementing regulations under 12 CFR 1026.