Understanding the Terms:
Interest Rate vs. APR, Monthly Payment, Cost over 0
The Interest Rate is the cost you will pay each year to borrow the money, expressed
as a percentage rate. It does not reflect fees or any other charges you may have to pay for the loan.
An Annual Percentage Rate (APR) is a broader measure of the cost to you of borrowing money, also expressed
as a percentage rate. In general the APR reflects not only the interest rate but also any points, mortgage broker fees,
and other charges that you pay to get the loan. For that reason, your APR is usually higher than your interest rate.
The Monthly Payment is the total of your loan amount's principal and
interest along with taxes, insurance MI/PMI, and various monthly fees, where applicable.
The "Cost Over 0" is your closing costs, mortgage insurance, and interest expense after any
tax deductions over the number of years indicated.
Reach out anytime and we'll answer any questions you may have. (661) 505-4311
Fred Kreger NLMS # 1850 / 214640 BRE# 01215943 / 01371184
©2018 American Pacific Mortgage Corporation (NMLS 1850). All information contained herein is for informational purposes only and, while every effort has been made to insure accuracy, no guarantee is expressed or implied. Any programs shown do not demonstrate all options or pricing structures. Rates, terms, programs and underwriting policies subject to change without notice. This is not an offer to extend credit or a commitment to lend. All loans subject to underwriting approval. Some products may not be available in all states and restrictions apply. Equal Housing Opportunity.