What is the difference between a mortgage rate and APR?

Answer The APR (annual percentage rate) is the numerical representation of the total cost of a loan for a full year, including all fees associated with the loan and the monthly interest rate. The mortgage... Read More »

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What Is the Difference Between an APR and a Mortgage Rate?

When shopping for a mortgage loan, you'll see two different numbers used to represent interest rates. The mortgage rate is what the lender advertises; the annual percentage rate, or APR, is a more ... Read More »

Who Do You Talk With to Get an Interest-Only Mortgage Changed to a Fixed Rate Mortgage?

Interest-only mortgages are considered to be one of the riskiest types of home loans on the market. If you have an interest-only loan, you can take the necessary steps to convert it into a fixed ra... Read More »

How Does the Prime Rate Impact a Mortgage Rate?

The prime rate is set by the Federal Reserve and is the interest rate lenders charge their most creditworthy customers. The "prime" fluctuates in relation to the fed fund rate from the Federal Res... Read More »

What is the difference between rate of return&interest rate?

Rate of return, call known as return on investment, is a percentage of the total profit made from an investment compared to the amount of the investment. Interest rate is the percentage of a loan's... Read More »