Definitions for "A.P.R"
Keywords:  truth, disclose, apr, yearly, annual
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.