Interest Rate Vs. Annual Percentage Rate (APR)

October 3, 2010 (Jeff Alan)

One of the hardest things to understand, especially for first time homebuyers is the difference between what is the “interest rate” and what is the “annual percentage rate (APR). When evaluating loan offers it’s important to understand the difference between the interest rate and the Annual Percentage Rate because not knowing could end up costing you a lot of many in the long run.

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