MORTGAGE ADVICE
The Annual Percentage Rate Is Not As Confusing As It Sounds
The Annual Percentage Rate, commonly referred to as the APR, is an oft-misunderstood term. Granted the mortgage world has a lot of different terms that can be a head-scratcher sometimes, but the APR is right up near the top, if not the top, of the list. And the confusion typically starts when borrowers first receive their initial loan disclosures. The APR is simply defined as the cost of
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David Reed
Writer
David Reed is a multi-published author and mortgage expert. As a Senior Loan Officer and Mortgage Executive he closed more than 2,000 mortgage loans over the course of more than 20 years in commercial and residential mortgage lending.
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