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Still confused on APR & interest rate

Which rate do I use to calculate my monthly payment, the interest rate or APR?
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August 23 2013 - Peru
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Answers (4)

You use the interest rate to calculate the mortgage payment.  The APR represents the overall cost of credit taking into account the prepaid finance charges associated with the particular loan you seek.
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August 27 2013

You use the interest rate to calculate your monthly payment.

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August 23 2013
interest rate   ( aka " note rate) ...disregard  APR when calculating  actual monthly payment amount
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August 23 2013
Interest rate is what you will always use. APR just gives you an idea of the total amount it is costing you because you add into the loan amount the amount of fees paid to the lender in points and admin and doc prep fees.
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August 23 2013
 
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Still confused on APR & interest rate
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