Interest Rate vs. APR — What’s really in each? Interest Rate • The...
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Interest Rate vs. APR — What’s really in each? Interest Rate • The...
CrossCountry Mortgage, LLC - Vacaville, CA / Roseville, CA. CrossCountry Mortgage, LLC - Vacaville, CA / Roseville, CA · Original audio. Interest Rate vs. APR — What’s really in each? Interest Rate • The cost of borrowing the money • Based on market conditions, loan type, credit, and risk • Used to calculate your monthly principal ...
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Interest Rate vs. APR — What’s the REAL Difference? This question comes up all the time, and honestly it’s one of the most misunderstood parts of borrowing money. In this quick conversation, I ask a simple question and Margie (Signing Home Loans) breaks it down in a way that actually makes sense. Interest Rate is the cost of borrowing money. This is what your monthly payment is primarily based on. APR (Annual Percentage Rate) is the true cost of the loan. APR includes interest plus certain upfro
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