Mortgages & Loans
What is the difference between the interest rate and the APR ?
The interest rate is the cost for borrowing a lenders or banks money while the APR takes into account the total cost of a mortgage, including closing fees and lender points over the life of a loan, not just the interest due.
Need Professional Help?
If you need help with "Mortgages & Loans" or have other tax questions, we can help you find a local licensed tax preparer for a free, no-obligation consultation.