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House interest question?
Posted on 12/10/11 at 9:31 am
Posted on 12/10/11 at 9:31 am
So I was approved at 3.8 percent but the APR is 4.33. What is the difference? And is this a good rate ??
This post was edited on 12/10/11 at 9:33 am
2
Posted on 12/11/11 at 8:37 pm to Kolbysfan
APR is a calculation that takes into account certain fees associated with the loan. It considers those fees as interest.
The resulting calculation is the APR.
The resulting calculation is the APR.
Posted on 12/12/11 at 9:06 am to novabill
Are you putting down 20%? If not, You are likely paying at least half a percent for mortgage insurance.
Posted on 12/12/11 at 11:43 am to Kolbysfan
Was your 3.8% a 30 year loan?
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