The term annual percentage rate of charge (APR), corresponding sometimes to a nominal APR and sometimes to an effective APR (or EAPR), describes the interest rate for a whole year (annualized), rather than just a monthly fee/rate, as applied on a loan, mortgage loan, credit card, etc. It is a finance charge expressed as an annual rate. Those terms...
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http://en.wikipedia.org/wiki/Annual_percentage_rate
This is meant to show the true cost of borrowing and adjusts the notional interest rate to take account of all the initial fees and ongoing costs to reflect the real cost of borrowing throughout the entire mortgage term.
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http://www.encyclo.co.uk/local/20194
This is an indicator used to compare interest rates. It takes into account the costs involved in setting up the mortgage, any discount periods, how often interest is calculated and calculates what the average rate of interest will be over the life of the loan. All lenders that comply with the consumer credit act must ensure that the the borrower is...
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http://www.encyclo.co.uk/local/20452
The true annual rate of
interest charged for a loan. Lenders usually increase the return on their money by compounding the interest payable on a loan to that loan on a monthly or even daily basis....
Found on
http://www.encyclo.co.uk/local/20688
Where interest on loans is expressed as other than a yearly rate, for example 1.5% per month, APR... <a target=_blank href='http://www.finance-glossary.com/terms/annual-percentage-rate.htm?id=56&ginPtrCode=00000&PopupMode=false' title='Read full definition of annual percentage rate'>more</a>
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A yearly interest rate that includes up-front fees and costs paid to acquire the loan, calculated by taking the average compound interest rate over the term of the loan. Mortgage lenders are required to disclose the APR so that borrowers can more accurately compare the actual cost of different loans with different fees.
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http://www.nolo.com/dictionary/annual-percentage-rate-term.html
The true annual rate of interest charged for a loan. Lenders usually increase the return on their money by compounding the interest payable on a loan to that loan on a monthly or even daily basis. This means that each time that interest is payable on a loan it is charged not only on the initial sum (principal) but also on the interest previously ad...
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https://www.encyclo.co.uk/local/21221
(APR) The cost of a mortgage stated as a yearly rate; includes such items as interest, mortgage insurance, and loan origination fee (points).
Found on
https://www.encyclo.co.uk/local/21405
No exact match found.
