What is APR in Relation to a Mortgage Loan?
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What is APR? Mortgage Applicaton

Understanding What APR Means on a Mortgage Loan Disclosure

The APR percentage rate that you see on loan documents indicates the true interest rate you are paying on your mortgage loan. It is always higher than the interest rate quoted because it includes a calculation of the loan fees that you pay up front.


When you take out a loan there is the interest rate and the Annual Percentage Rate (APR) The APR includes all points and fees that are added to the loan by spreading out those costs over the term of the loan. Your lender should supply you with an APR disclosure at application. It is the best way to compare the deals that lenders are offering.

Compare APR

Always apply to at least three lenders and be sure to review the APR disclosure that each provides you with. The deal with the lowest APR is always the best deal when the interest rates offered are the same! It means that the loan fees are less with that lender.

Mortgage APR Calculator.

The APR shows what your true cost to borrow actually is and it is always higher than your interest rate. To calculate your APR click here.

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