What Does APR Really Mean on Loans?

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What is APR, and why is it different from your interest rate?

In this week’s episode of Mortgage Matters in Minutes, Brent Rasmussen, owner of Mortgage Specialists, breaks down the truth behind APR (Annual Percentage Rate) — what it means, how it's calculated, and why it matters when comparing loan offers.

You’ll learn:
✅ What APR represents beyond the interest rate
✅ How fees and closing costs affect your APR
✅ Why APR is often higher than your quoted rate
✅ How to use APR to compare offers from multiple lenders
✅ What the Truth in Lending Act and RESPA require in APR disclosure
✅ Where to find APR on your Loan Estimate

Whether you’re a first-time homebuyer, refinancing, or just curious about mortgage math, this short episode will help you understand the true cost of borrowing.

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