A.P.R. (Annual Percentage Rate)

A term used in the Truth in Lending Act.  It represents the relationship of the total finance charge (interest, discount points, origination fees, loan broker, commission, etc.) to the amount of the loan.  When these fees are taken into account, the A.P.R. for the lender is usually higher than the interest rate stated on the note.

Related posts:

  1. Adjustable Rate Mortgage
  2. Amortization Schedule
  3. Amortization