The cost of a mortgage stated as a yearly rate; includes such items as interest, mortgage insurance, and loan origination fee (points)."

What you pay for a credit card can be expressed as an 'Annual Percentage Rate' or APR. An APR takes into account: You do not need to know how to work out an APR. The important thing is that APRs show the cost of borrowing on a standard basis. So you can compare the APR of one lender with another. The APR also lets you compare the cost of credit cards with other types of borrowing. Of course, a loan with a lower APR is cheaper than a loan with a higher APR.

APR stands for annual percentage rate, which is the annual interest rate a credit card company charges you for a one-year loan on the balance of your credit card purchases. It's important to know that APRs vary from one company to another, so do your homework and shop around for a credit card that has the lowest APR. If you know you're going to pay off your credit card balance in full each month, then you don't need to concern yourself with a credit card's APR.

The APR - (Annual Percentage Rate) is a federally required calculation of what your rate would be if you rolled all your cost into your loan. In other words, if we took all your cost of getting into the home (with the exception of your down payment) and rolled it into the interest rate. Please keep in mind that the APR is NOT how your payment is calculated. The APR will come on your Truth-in-Lending (TIL) disclosure, and quite often the APR is higher than the actual note rate.

Answer: APR or Annual Percentage Rate. The APR reflects the cost of your mortgage loan as a yearly rate. This rate may be higher than the rate stated in your mortgage or note because the APR includes, in addition to interest, loan discount or points, and other credit costs.