What is APR and why is it different than my interest rate? Hi, I'm Tim Whitmire.
I'm a Senior Mortgage Banker with First Integrity Mortgage. APR stands for Annual
Percentage Rate. The APR considers all the costs in a transaction, such as
closing cost and PMI, and turns it into a rate. The APR is higher than the interest
rate when you get a mortgage because the APR is the interest rate plus all the
other closing costs and fees associated with the transaction. The interest rate
and the APR on car loans and credit cards are the same because there are no
closing cost when you get a car loan or credit card. The purpose of the APR is to
give you, the consumer, a sense of the true cost of the loan. The higher the
closing fees, the greater the difference you'll see between your interest rate
and APR. The APR in a typical transaction is typically a quarter
percent higher than your rate. The APR on a transaction with PMI will be
significantly higher than your interest rate because there's PMI added to it. I
would love to help you, your family, and your friends with your mortgage and your
needs. Please give me a call (314) 402-8184.
(314) 402-8184. I look forward to working with you!
For more infomation >> Orchid Apartments Services in Bujumbura, Burundi (Africa). The best of Orchid Apartments Services - Duration: 3:36. 
For more infomation >> Envoyé en orbite par les services secrets américains, ce vaisseau spatial inquiète le reste du monde - Duration: 3:31. 
Không có nhận xét nào:
Đăng nhận xét