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1:34
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Joe Smith, Next Step Realty
Interest Rate vs. APR — What’s the REAL Difference? This question comes up all the time, and honestly it’s one of the most misunderstood parts of borrowing money. In this quick
Joe Smith, Next Step Realty. . Interest Rate vs. APR — What’s the REAL Difference? This question comes up all the time, and honestly it’s one of the most misunderstood parts of borrowing money. In this quick conversation, I ask a simple question and Margie (Signing Home Loans) breaks it down in a way that actually makes sense. Interest ...
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Interest Rate vs APR - knowing the difference can help you decide which loan is right for you! | Wright-Patt Credit Union | Facebook
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Let’s break down interest rate vs. APR—because they’re not the same thing. 💸 Your interest rate is what the lender charges to borrow money. 📊 Your APR (Annual Percentage Rate) includes the interest rate plus additional fees like closing costs and mortgage insurance. When comparing loans, APR helps you understand the total cost. That “low rate” might not be the better deal if it comes with stacked fees. Let’s walk through the numbers together so you can make the smartest choice. ➡️ lenderforlif
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