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So The APR's are posted for a usda loan? My current lender is saying that they are not posted

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May 12 2010 - Goddard
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Profile picture for tawnylynn
Interest rates are quoted on rate sheets but not APRs. The APR (Annual Percentage Rate) will vary depending on the loan amount, closing costs and the interest rate. In order for you to obtain a 'correct' APR your lender will need to first work up an initial fees worksheet. The document which discloses the APR is the Truth-In-Lending Disclosure Statement. The APR should be based on your loan amount, your estimated closing costs and your interest rate. Otherwise, you are not comparing apples with apples and the APR means nothing.
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May 12 2010
 

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