Annual Percentage Rate

Article of the Day: Jumbo Mortgage Rates Too High Compared To Non-Jumbo Mortgage Rates

Annual Percentage Rate

Posted:Sep. 05, 2008
05:42 PM

Annual Percentage Rate Defined
Annual Percentage Rate or APR is a rate of interest that includes certain costs and fees for the mortgage in addition to the interest rate expressed as a yearly rate. The APR rate is not the rate your payment is calculated from.
It was supposed to make mortgage shopping easier [...]

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