Buying A Home
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APR vs Rate

We just accepted the counter offer on the house we want to buy and I recently started digging into looking for our official mortgage lender. What is the difference between the APR and the Rate that seems to be quoted every where?

Re: APR vs Rate

  • APR = Annual Pecentage Rate

    Your APR is the interest rate and any other fees or rates associated with your motgage.  The interest rate is the rate on your principal loan amount before fees and such.  Your APR can = your rate, but often is a more. 

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