Mortgage Rates

What’s The Distinction Involving Your Desire Charge and APR (annual proportion level)




Josh describes the difference amongst your curiosity level and APR of your financial loan.
Josh Mettle is a major producing property finance loan financial institution specializing in financing Medical professionals, Dentists and Clinical Experts in Salt Lake Metropolis, Utah. Look at out his site for clinical experts. Josh is also a fourth technology actual estate investor, and owns a quantity of rental properties, condominium units and mortgages. If you’re ready to invest in or provide household actual estate, get Josh’s most current no cost suggestions, resources and e-newsletter at . Utah Actual Estate Experts can continue to keep knowledgeable by viewing Josh’s House loan and Actual Estate Website at

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18 comments

  1. The is the first explanation that finally made sense! So if I'm the buyer and the seller is paying the closing costs then the only number I need to compare is the interest rate, right? Why would the APR matter to me if I don't pay the upfront closing costs?

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  2. best explanation so far I found on youtube

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  3. thanks !

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  4. Thank you so much! You are the only person that made me understand this

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  5. Thanks! Best explanation I've heard thus far.

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  6. Nice job. Thank you!

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  7. Thank you, appreciate your time sir, very helpful video

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  8. good stuff, keep'em coming

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  9. Thank you!

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  10. great lamens terms explanation!!!! thank you!!!!

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  11. perfect thanks

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  12. thank you Josh!

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  13. Great video

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  14. Good info. Thanks.

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  15. Thank you. You explained it brilliant! I get it now 🙂

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  16. Many times the closing costs are added to the principal loan amount which is amortized at the quoted Annual interest rate.This means that your principal loan amount is simply increased by the amount of the closing cost and is therefore amortized at the quoted Annual Interest Rate. If no Private Mortgage Insurance is involved, the Annual Interest and the APR (Annual Percentage Rate) should be the same but in my experience it is usually not. Something is not adding up

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  17. Do you have a suggestion of what the difference between the two should be? 1%? More? I will have PMI on mine as well, and I just want to be sure I'm not getting swindled on closing costs or any other hidden fees my lender might have included. And does it even matter if I will be selling the home within 15 years of my 30 year mortgage? Thanks for the help!

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  18. Thanks for the info

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