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What is the actual difference between the interest rate & the APR?

bob

20-09-2007 10:28

Messages: 6
Country: USA
City: missisippi

What is the actual difference between the interest rate & the APR?

Re: What is the actual difference between the interest rate & the APR?

lukas

23-09-2007 06:25

Messages: 17
Country: USA
City: south carolina

the actual difference between the interest rate & the APR is the cost to borrow the lender's money. The APR represents the total cost of the mortgage over the life of the loan, plus closing costs and lender points.

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