What is APR? Annual Percentage Rate

What is APR?

What the heck is APR? Real Estate can be confusing at times but the more you educate yourself the better your understanding will be. Today we learn what APR is!

Annual Percentage Rate - An annual percentage rate (APR) is a broader measure of the cost of borrowing money than the interest rate. The APR reflects the interest rate, any points, mortgage broker fees, and other charges that you pay to get the loan. For that reason, your APR is usually higher than your interest rate.