# What Is Apr Versus Interest Rate

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Interest rate vs. APR. The interest rate is the cost of borrowing the principal loan amount. It can be variable or fixed, but it’s always expressed as a percentage. An APR is a broader measure of the cost of a mortgage because it includes the interest rate plus other costs such as broker fees, discount points and some closing costs, expressed as a percentage.

Interest rate refers to the annual cost of a loan to a borrower and is expressed as a percentage; APR is the annual cost of a loan to a borrower – including fees. Like an interest rate, the APR is expressed as a percentage.

How to determine which mortgage is right for you Know the difference between interest rate vs. annual percentage rate, APR. It’s easy to confuse a mortgage interest rate and APR, but they’re.

The math isn’t as favorable for people who use low interest rate credit cards in lieu of 0% intro APR cards, which is why we have a preference for cards that offer a 0% intro APR. The table below.

A loan’s Annual Percentage Rate, or APR, is the cost of your mortgage credit as a yearly rate. Your Annual Percentage Rate is typically higher than your interest rate because it includes your interest rate plus certain fees, such as lender and mortgage broker fees, based on the specific characteristics of your loan.

Interest rates can be confusing. Sometimes they are expressed as an annual rate (i.e. APR), sometimes they are expressed for the compounding period (i.e. interest per month), or as annual percentage yield (APY). The confusion is that all of these numbers mean different things when applied to real world situations.

It’s time for another mortgage match-up: "Mortgage rate vs. APR." If you’re shopping for real estate or looking to refinance, and you’ve seen a certain mortgage rate advertised, you may have noticed a second, similar percentage adjacent to or below that interest rate, possibly in smaller, fine print.

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Loan type: Jumbo 10-year adjustable-rate mortgage with Interest Only’ payment for 10 years of 30-year term. Rate: 4.375%. APR: 4.480%. Backstory: A past client reached out to me about refinancing to.

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