APR vs. interest rate: What’s the difference?
The APR and interest rate on your mortgage aren’t the same. Here’s what to pay attention to when you compare costs.
Kacie Goff is a personal finance and insurance writer with over five years of experience covering personal and commercial coverage options. She's also dedicated to besting her brother, a financial advisor, with insider insight into the personal finance industry and spends hours researching the latest rates and regulations.
Goff founded Jot Content, a full-service content agency, in 2018. Through Jot, she contributes web content, blogs, case studies, press releases and more to brands in the finance, insurance, health and wellness, continuing education, healthcare and marketing industries.
She lives in Ventura, CA, with her husband and dingo-lookalike dog, Babou. When she’s not writing, you can find Kacie practicing yoga, working in her garden or scoping out a new happy hour.
The APR and interest rate on your mortgage aren’t the same. Here’s what to pay attention to when you compare costs.
They’re less than mortgages’ upfront expenses, but they do add up.
The answer depends on what state you live in, and that state’s legal age of majority.
It’s a comparison calculation that’ll determine if you’ll get a loan, and the interest rate you’ll pay.
If you have a sufficient ownership stake in it — yes. But it may not be the best move.
You bet — in ways both good and bad. Here’s how to judge its impact.
Is one better than the other? Here are the pros and cons of each.
How to estimate your ownership stake, and how much of it you can borrow.
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