What’s the Difference Between Interest Rate and A.P.R.?

November 30, 2009 by Rob Spring · Leave a Comment 

What is the difference between the Interest Rate and the A.P.R.?
You’ll see an interest rate and an Annual Percentage Rate (A.P.R.) for each mortgage loan you see advertised. The easy answer to “why” is that federal law requires the lender to tell you both.
The A.P.R. is a tool for comparing different loans, which will include [...]