APR

In plain English

The annual percentage rate: the yearly cost of a loan including the interest rate and some of the fees, as a single percentage. It's usually a little higher than the interest rate.

Why it matters to you

Two loans with the same rate can cost different amounts once fees are counted. Comparing APRs on your Loan Estimates shows which loan costs more overall.

infoGeneral information based on the standard Georgia REALTORS® purchase contract and public guidance. Your own contract decides: read it, and ask your agent or closing attorney about anything that matters. Not legal or financial advice.