The APR, or annual percentage rate, is the cost you incur for borrowing money. When it comes to your mortgage, it is calculated using your interest rate, broker fees, closing costs, and all other charges that are required to finance the loan, which is why the APR is usually higher than your interest rate. | FHA.com

40 reactions | What is APR? APR is Annual Percentage Rate, which is the amount the bank is going to charge you in interest. APR is based on your credit score and monthly income. APR plays an important role in how much your new car will cost you monthly. #CarZing | Carzing | Facebook