Understanding the distinction between a mortgage loan’s interest rate and annual percentage rate (APR) can make you a more savvy mortgage shopper — and potentially save you some money along the way.

The annual percentage rate, or APR, is an essential concept for anyone borrowing money to understand. It is the total rate of interest paid annually over the life of a loan. APR plays a vital role in ...

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The interest rate on a mortgage indicates how much interest you’ll pay for the amount you borrow. The annual percentage rate (APR) is the interest rate plus additional fees and any points. Interest ...