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New England Title & Escrow Services | Massachusetts Real Estate Attorney | Blog

New England Title | Massachusetts Real Estate Attorney | Blog

 

What you need to know about the New England real estate and lending market.

What is APR?

November 28, 2017

APR, are three letters often seen on credit card statements, auto loan documents, mortgage disclosure statements, advertised in association with various loan types, and discussed by bank representatives; but despite how often these three letters – this acronym – is presented to us in the various settings there is seldom a detailed explanation that accompany them. In fact, APR has been as constant a phenomenon as mortgage lending is a tradition, but it was not shared with the public until legislation passed in the US Congress requiring it to be disclosed as a cost on mortgages and other consumer loans.

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