What is APR and How Does It Affect Your Mortgage? – Holden Lewis

Annual percentage rate, or APR, reflects the true cost of borrowing. Mortgage APR includes the interest rate, points and fees charged by the lender. APR is higher than the interest rate because it encompasses all these loan costs. Here’s a primer on the difference between APR and interest rate, and how to use it to…

The article What is APR and How Does It Affect Your Mortgage? originally appeared on NerdWallet.

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