Welcome to our lending blog, your go-to resource for all lending matters. Here, we delve into various loan types, the detailed loan process, expected timelines, and the crucial role of appraisals and loan contingencies. We'll also break down important concepts like APR, helping you understand the full cost of borrowing and make informed decisions. Whether you're a first-time homebuyer or an experienced investor, our comprehensive insights will guide you through the complexities of the lending landscape.

Found 2 entries about Lending Matters: Your Key To Home Ownership.

Rate vs. APR

Posted by Jyoti Graziano on July 16th, 2024

Rate vs. APR:

Understanding Mortgage Interest Charges

Knowing the difference allows borrowers to accurately compare the true cost of different mortgage offers. While the interest rate shows the cost of borrowing the principal alone, the APR includes additional fees, giving a fuller picture. Understanding both metrics helps borrowers assess the total cost of their mortgage, including fees that might not be obvious at first glance. This ensures they are not surprised by hidden costs later.

Interest Rate:

Definition: The interest rate is the annual percentage charged by a lender on the principal amount (the initial amount borrowed).
Purpose: It represents the cost of borrowing the principal amount alone.

Annual Percentage Rate…

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