What does annual percentage rate mean? Metro Detroit real estate termsWhat does annual percentage rate mean? Metro Detroit real estate terms. Annual percentage rate (APR) is a measurement of the full cost of a loan including interest and loan fees expressed as a yearly percentage rate. Because all lenders apply the same rules in calculating the annual percentage rate, it provides consumers with a good basis for comparing the cost of loans. You will see this term on your truth and lending sheet from your mortgage lender. It is a great way for you to compare one lender to another, by using the annual percentage rate. The biggest confusion of this term is at closing because it is not your true interest rate. Your true interest rate is usually lower. For more information on Metro Detroit Real Estate terms, or if you are interested in buying a Metro Detroit home, please give me a call at 313-310-9855 or email me at yesmyrealtor@gmail.com Search for Metro Detroit homes Metro Detroit home information Michigan Lake Info:
http://www.detroitmichiganrealestatehomes.com/00588E Posted on Jan 09, 2012 @ 7:23 am by russ.ravary - View Profile
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