Updated almost 5 years ago on . Most recent reply
Interest Rate and Annual Percentage Rate Question
New BiggerPockets member, 1st time home buyer, and 1st post! Recently got approved for a FHA 203k loan - yay 😃
My interest came back 3% but my APR came back 4% what is that about?
Am I ultimately paying 4%? Is this bad or good?
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Wayne Brooks
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Wayne Brooks#1 Foreclosures Contributor
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- Real Estate Professional
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The APR adds in all the fees, PMI (.85%/year) and such and calculates/show the total cost of the loan.