What is APR for mortgage loans?

Answer APR stands for annual percentage rate. When used to refer to mortgages, it refers to the total cost of the loan rather than just the interest costs.PurposeLoan fees are a significant part of the co... Read More »

Top Q&A For: What is APR for mortgage loans

What is pmi with mortgage loans?

PMI is an abbreviation for private mortgage insurance. PMI is a cost that lenders will add to the monthly mortgage payment for borrowers who only put down a small down payment.FunctionIf a borrower... Read More »

What are typical closing costs for fha mortgage loans?

The average amount of closing costs on a $200,000 mortgage loan came in at $2,732, according to a 2009 survey by financial news site Though closing costs may vary depending on the siz... Read More »

What percentage of home mortgage loans are ARMs or interest only?

As of the first quarter of 2008, ARMs comprised 6 percent of home mortgage loans, according to U.S. Department of the Treasury Secretary Henry M. Paulson, Jr. In 2009, there were 2.8 million intere... Read More »

Can I get a mortgage with student loans?

You can get a mortgage if you have outstanding student loans. Obtaining a mortgage depends on many factors, including credit score, down payment and employment history. However, being delinquent on... Read More »