For many people the first question they ask a mortgage loan officer is, “What are your Mortgage Rates?” When I get this question, I could flippantly choose between any of these answers: A. That Depends A. Anywhere from 1% to 10%, what would you like them to be? A. 5% plus or minus A. Rates [...]
Read the full article →APR is an acronym for Annual Percentage Rate. It’s a government-mandated calculation meant to simplify the comparison of mortgage options. It is probably the most misunderstood number at any closing or with any application. A loan’s APR can always be found in the top-left corner of the Federal Truth-In-Lending Disclosure. Because APR is expressed as a percentage, [...]
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