Real Estate Terms Glossary
What is Annual Percentage Rate (APR)?
The term annual percentage rate, also known as APR, is the annualized rate charged to borrowers by lendors or investors. ARP is typically written in a percentage and is essentially the cost of funds. APR includes fees and transaction costs, but doesn’t reflect any sort of compounding interest. It is a term that is easy for borrowers to understand.
Annual Percentage Rate Examples
Examples where you will find APRs include:
- Example 1. ARP may be found in a auto loan
- Example 2. APR may be found in a mortgage note
- Example 3. ARP may be found in a general loan agreement
- Example 4. APR may be found in a promissory note
- Example 5. APR may be found in a convertible note
Here’s Wikipedia’s definition of APR .
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