Profile picture for Sc2ra

what is the difference between the interest rate and anuual percentage rate?

  Flag content
Close
Report a Problem

Please enter a valid email address.

Close
Content flagged

We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

Close
We're Sorry
This service is temporarily unavailable. Please come back later and try again.
October 09 2009
We think we've answered this question for you!
  • Be a Good Neighbor. Be respectful and on-topic. No spam or self-promotion! See our Good Neighbor Policy.
 
 

Answers (2)

Interest rate is the rate on the loan, APR is the interest rate calculated with closing costs/fees association with the purchase of the home.
  Flag content
Close
Report a Problem

Please enter a valid email address.

Close
Content flagged

We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

Close
We're Sorry
This service is temporarily unavailable. Please come back later and try again.
October 24 2010
Interest rate is the base rate at which you're charged interest on the principal amount of the loan.

APR takes into account the fees that are charged, and gives you a sort of "overall rate".  It's a rate that calculates the total cost of borrowing.
  Flag content
Close
Report a Problem

Please enter a valid email address.

Close
Content flagged

We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

Close
We're Sorry
This service is temporarily unavailable. Please come back later and try again.
October 09 2009
 
Related Questions
Any initiatives to separate cost of infrastructure in billing for electricity?
Profile picture for Pasadenan
Latest answer by Pasadenan
10 minutes ago | 5 answers
Property tax
Profile picture for Steven Pacchiano
Latest answer by Steven Pacchiano
3 hours ago | 1 answers
  • Asked by blondyneczkaaa
  • In Taxes
  • 3 days ago
How do I take over lease option?
Profile picture for Luz Martinez
Latest answer by Luz Martinez
15 hours ago | 1 answers
Be A Good Neighbor

Zillow Advice depends on each member to keep it a safe, fun, and positive place. If you see abuse, flag it. More on our Good Neighbor Policy.