03/24/2022
APR stands for Annual Percentage Rate. It is the annual cost of a loan to a borrower expressed as an interest rate. Like the interest rate, the APR is expressed as a percentage. Unlike an interest rate, however, it includes other charges or fees (such as lender fee or origination fees, mortgage insurance, and some closing costs as well) to reflect the total cost of the loan. The Federal Truth in Lending Act requires that every consumer loan agreement disclose the APR. Since all lenders must follow the same rules to ensure the accuracy of the APR, borrowers can use the APR as a good basis for comparing two loans from different banks based on their costs.
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Trustlink Mortgage, All Rights Reserved. Trustlink Mortgage is a registered trade name of Burn the Ships, Inc., NMLS ID 1856913. Licensed as a Real Estate Broker by the CA Dept. of Real Estate, License No. 02090927. Regulated by the Colorado Division of Real Estate. Trustlink Mortgage is licensed as a mortgage broker by the AZ Department of Financial Institutions, License No. MB-1005075. Trustlink Mortgage is licensed as a mortgage broker by the Idaho Department of Finance, License No. 2081856913. This is not an offer for the extension of credit or a commitment to lend. Interest rates, loan terms and loan programs are subject to change without notice. All loans subject to underwriting