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I am planning to take out a mortgage loan next month. I am hearing a lot of things about APR. What is it? What items are generally included in APR?

Have you tried a google search?

APR-annual percentage rate. It is your interest rate.

Sub: #1 posted on Mon, 12/13/2010 - 04:21

Moderators Cum Industry Expert
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The term annual percentage of rate (APR) is used to describe the interest rate for a whole year and not just the monthly fee or rate, as applied on a mortgage loan, credit card, etc. It is mandatory for the lenders to disclose the APR before the loan or credit application is finalized.

Sub: #2 posted on Tue, 12/14/2010 - 22:27

Anna Sweeting Anna Sweeting

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