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| Home | Ask Your Question | Mortgage Glossary | ||
Annual percentage rate (A.P.R.) Is
a interest
rate reflecting the cost of a mortgage as a yearly rate. This rate is
likely to be higher than the stated note rate or advertised rate on the
mortgage,
because it takes into account point and other credit cost. The APR
allows home buyers to compare different types
of mortgages based on the annual cost for each loan. |
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Related Mortgage Definitions: Annual percentage rate APR Annual percentage rate (A.P.R.) Is a interest rate reflecting the cost of a mortgage as a yearly rate. This rate is likely to be higher than the stated note rate or advertised rate on the mortgage, because it takes into account ... more... FHA Mortgage Insurance FHA Mortgage Insurance It is insurance from FHA to the lender against incurring a loss on account of the borrower's default. Paid if FHA loan LTV is higher than 80%. Also known as MIP - Mortage Insurance Premium. By insuring the loan the Federal Government agrees to repay ... more... MIP, Mortgage Insurance Premium MIP, Mortgage Insurance Premium It is insurance from FHA to the lender against incurring a loss on account of the borrower's default. Paid if FHA loan LTV is higher than 80%. Also known as FHA Mortgage Insurance. By insuring the loan the Federal Government agrees to repay ... more... Regulation Z Regulation Z, Reg Z A federal regulation requiring creditors to provide full disclosure of the terms of a loan including the terms of the loan and the annual percentage rate (APR). APR is a interest rate reflecting the cost of a mortgage as a yearly rate. This rate ... more... |
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