mortgage interest rate and apr difference

Mortgage Rate vs. APR: What to Watch For | The Truth About. – And the other is the annual percentage rate, or APR, which is the interest rate factoring in certain loan costs, such as processing, underwriting, loan origination fees, broker fees, mortgage insurance premiums, and so on.

APR vs. Interest Rate. What are the Differences. – When shopping for a mortgage, be mindful that an advertised interest rate is not the same as your loan’s annual percentage rate or APR. Most homebuyers today are unaware of the differences. Knowing the difference can help save money on your mortgage. Interest rate can be variable/adjustable or fixed, constant for the terms of your loan.

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