Annual Percentage Rate. APR is a measurement of the full cost of a loan including interest and loan fee expressed as a yearly percentage rate. This is one way to compare the cost of loans offered by different lenders.
Annual percentage rate. The actual cost of a mortgage loan expressed as a yearly rate. The APR will be higher than the interest rate stated on the application and note if it includes fees which are categorized as pre-paid finance charges such as: interest, discount points, origination fee, required mortgage insurance and other related fees. The Truth in Lending Act requires lenders to disclose an APR to assist the borrower in measuring the actual cost of a loan on an annualized basis.
Annual Percentage Rate. The total cost of credit on a yearly basis expressed as a percentage. It takes into account the total cost of the loan including origination fee, points, prepaid interest, etc. The APR is typically higher than the note rate.
Annual percentage rate. A calculation of the total costs associated with a loan, including interest and fees, expressed as a yearly percentage.
Annual percentage rate. A measurement of the full cost of a loan including interest and loan fees expressed as a yearly percentage rate. APR provides borrowers with a good way to compare different mortgages because all lenders apply the same rules in calculating the annual percentage rate.
ANNUAL PERCENTAGE RATE. The cost of credit on yearly basis, expressed as a percentage. Required to be disclosed by the lender under the federal Truth in Lending Act, Regulation Z. Includes up-front costs paid to obtain the loan, and is therefore, usually a higher amount than the interest rate stipulated in the mortgage note. Does not include title insurance, appraisal, and credit report.
See: Annual Persentage Rate.
Annual Percentage Rate. A term defined in section 106 of the federal Truth in Lending Act, which expresses on an annualized basis the charges imposed on the borrower to obtain a loan (defined in the Act as “finance charges”), including interest, discount and other costs association with the loan.
Annual Percentage Rate or Actual Percentage Rate.
Annual percentage rate. APR is a measurement of the full cost of a loan including interest and loan fees expressed as a yearly percentage rate. Because all lenders apply the same rules in calculating the annual percentage rate, it provides consumers with a good basis for comparing the cost of loans.
Annual percentage rate. The true cost of a mortgage, expressed as a yearly % rate. This rate is likely to be higher than the stated note rate, because it takes into account points and other credit costs.
Annual percentage rate. Is a interest rate reflecting the cost of a mortgage as a yearly rate. This rate is likely to be higher than the stated note rate or advertised rate on the mortgage, because it takes into account point and other credit cost. The APR allows home buyers to compare different types of mortgages based on the annual cost for each loan.
annual percentage rate. The actual interest rate, taking into account points and other finance charges, for the projected life of a mortgage. Disclosure of APR is required by the Truth-in-Lending Law and allows borrowers to compare the actual costs of different mortgage loans.
See: annual percentage rate.
ANNUAL PERCENTAGE RATE. The total amount of the finance charge - including interest, points and all loan fees (i.e. escrow, processing, etc.) - calculated as a percentage of the borrowed amount and expressed as a yearly rate.
A term used in the Truth in Lending Act. It represents the relationship of the total finance charge ( interest, discount points, origination fees, loan broker commission, etc.) to the amount of the loan.
Annual Percentage Rate. The yearly cost of a mortgage, including interest and all added costs associated with a given mortgage, expressed as a percentage.
ANNUAL PERCENTAGE RATE. The annual cost of a mortgage, including interest, loan fees and other costs, stated as a percentage of the loan amount. A rate designed to allow for the comparison of one type of loan to another. The annual cost of borrowing under a given form of loan (includes in the calculation compounded interest, cost of borrowing etc.). Required to be disclosed by the lender under the American Truth in Lending Act, Regulation Z.
Annual Percentage Rate. The interest rate of a loan expressed as a yearly rate. The APR takes into account the interest rate, mortgage insurance, and loan origination fees (points). The A.P.R. is disclosed as a requirement of federal truth in lending statutes.
Annual Percentage Rate. Is the interest rate reflecting the cost of a mortgage as a yearly rate. This measurement of rates is likely to be a little higher than the stated mortgage note rate or advertised rate on the mortgage. It takes into account points and other mortgage related origination costs. You can find the A.P.R. on the mortgage disclosure document.
Annual Percentage Rate. The yearly interest percentage of a loan, as expressed by the total finance charge actually paid (interest, loan fees, points). The A.P.R. is disclosed as a requirement of federal truth in lending statutes.
Annual Percentage Rate. The yearly interest percentage of a loan, as expressed by the actual rate of interest paid. For example: 6% add-on interest would be much more than 6% simple interest, even though both would say 6%. The A.P.R. is disclosed as a requirement of federal truth in lending statutes.
Annual percentage rate. The relationship of the total finance charges associated with a loan. This must be disclosed to borrowers by lenders under the Truth-in-Lending Act.