APR is the annual fee of a mortgage to a borrower — including fees. Like an interest rate, the APR is expressed as a percentage.
Unlike an pastime rate, however, it consists of different fees or prices such as personal loan insurance, most closing costs, bargain factors and mortgage origination fees.
Put simply, APR is the cost of borrowing on a credit card. It refers to the each year pastime price you may pay if you lift a balance, and it often varies from card to card. For example, you may additionally have one card with an APR of 9.99% and another with an APR of 14.99%.
Learn more about annual percentage rate here:
