Personal Finance
Loans
Money Management
Is the annual percentage rate usually lower than the actual interest rate on the loan?
Wiki User
2007-07-20 03:48:59
The actual interest rate on a mortgage will always be higher
than the annual percentage rate unless the borrower keeps the loan
for the full term. Refinancing or selling before the end of the
term results in a much higher actual (effective) interest rate. The
effective rate on a mortgage can be lower than the annual
percentage rate (fixed rate) by paying extra to principal
especially early in the mortgage term.
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What is the annual percentage rate APR on a credit card?
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A way to find interest that uses a 365 day year is?
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What does annual percentage mean?
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What is effective interest rate?
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Why is the APR considered the most important factor to be mindful in a car loan?
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What does APR stand for?
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What is the amount of interest that a 100 deposit would earn after compounding for one year called?
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