The APR on an FHA loan will always be higher than on a conventional because of the upfront mortgage insurance. The APR, while quoted as an interest rate, is not one. Your rate is the 4.5%. Your actual interest rate is also considerably higher than that because of the monthly mortgage insurance you pay for what is most likely the life of the loan.

APR stands for annual percentage rate. It’s different from the interest rate in that it not only includes interest costs, but also fees related to a loan.It tells you how much a loan will cost in one year.

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They might be used interchangeably, but an APR and an interest rate aren’t one and the same. The annual percentage rate represents your total cost of getting a mortgage. The interest rate represents the cost you pay over time to buy that loan. Let’s take a look at the difference between your APR.

Mortgage rates vary depending upon the down payment of the consumer, their credit score, and the type of loan that will be acquired by the consumer. For instance, in February, 2010, the national average mortgage rate for a 30 year fixed rate loan was at 4.750 percent (5.016 APR).

What Is a Good APR? – SmartAsset – APR stands for annual percentage rate. The APR on a loan or debt gives you a more complete picture of how the debt will accumulate than you would get from the interest rate alone. But what is a good APR and how can you get one? The answer to that depends on your credit score and on the type of debt.

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The annual percentage rate is the total yearly cost of a mortgage and is expressed as a percentage of the loan amount. The APR takes into consideration the total costs of home ownership when.

LendingTree: Homebuyers, this is how much you could have saved on your mortgage – NOTE: The LendingTree Mortgage Rate Competition Index measures the spread in the APR of the best offers available on its website. Alcynna Lloyd is a reporter at HousingWire. Lloyd has a degree in.

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"Because APR spreads the fees over the course of the entire loan, its value is optimized only if a borrower plans to stay in the home throughout the entire mortgage," says Gloria Shulman.