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Deciphering APR and Interest Rates

By
Real Estate Agent with Real Broker, LLC 9051300

Deciphering Interest Rates and APR: Unveiling the Complete Picture of Borrowing Costs

In the realm of securing a mortgage, many homebuyers fixate solely on the interest rate, overlooking crucial aspects of borrowing costs. While the interest rate is pivotal, it doesn’t encapsulate the entirety of borrowing expenses. Enter the Annual Percentage Rate (APR), an equally significant metric often overlooked. Unlike the interest rate, the APR offers a more comprehensive view of borrowing costs. In this discourse, we’ll dissect the disparities between mortgage interest rates and APRs.

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