Difference between the interest rate and APR on a mortgage
- Seattle, Portland, San Francisco
- 2022/12/05
Both interest rates and annual percentage rates (APR) refer to how much you’ll pay for the loan. An interest rate is what a lender will charge on the principal amount being borrowed. An APR represents the total cost of borrowing money. APR includes the interest rate plus any fees, associated with generating the loan.
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