What’s The Big difference In between Your Desire Amount and APR (annual share level)
Josh clarifies the change among your fascination level and APR of your loan.
Josh Mettle is a prime developing mortgage lender specializing in financing Physicians, Dentists and Clinical Industry experts in Salt Lake City, Utah. Verify out his internet site for health-related gurus. Josh is also a fourth era real estate trader, and owns a quantity of rental houses, apartment units and mortgages. If you might be all set to invest in or provide residential real estate, get Josh’s newest no cost suggestions, resources and publication at . Utah Genuine Estate Industry experts can retain educated by checking out Josh’s Mortgage loan and Genuine Estate Website at
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18 comments
Jason McNeal March 11, 2017 8:42 pm
The is the first explanation that finally made sense! So if I'm the buyer and the seller is paying the closing costs then the only number I need to compare is the interest rate, right? Why would the APR matter to me if I don't pay the upfront closing costs?
ReplyTailo March 11, 2017 8:42 pm
best explanation so far I found on youtube
ReplyNikhil March 11, 2017 8:42 pm
thanks !
ReplyVixen Fox March 11, 2017 8:42 pm
Thank you so much! You are the only person that made me understand this
Replyrobodude666 March 11, 2017 8:42 pm
Thanks! Best explanation I've heard thus far.
ReplyChesten Kesselhon March 11, 2017 8:42 pm
Nice job. Thank you!
ReplyVinny AR March 11, 2017 8:42 pm
Thank you, appreciate your time sir, very helpful video
ReplyNew York Junky March 11, 2017 8:42 pm
good stuff, keep'em coming
Replybih .bih March 11, 2017 8:42 pm
Thank you!
ReplyDrJones694 March 11, 2017 8:42 pm
great lamens terms explanation!!!! thank you!!!!
ReplyJStinson05 March 11, 2017 8:42 pm
perfect thanks
ReplyBill B March 11, 2017 8:42 pm
thank you Josh!
ReplyJ.A.S. the Future March 11, 2017 8:42 pm
Great video
ReplySean Cuttler March 11, 2017 8:42 pm
Good info. Thanks.
ReplySIBUK March 11, 2017 8:42 pm
Thank you. You explained it brilliant! I get it now 🙂
ReplyJoel D'Hue March 11, 2017 8:42 pm
Many times the closing costs are added to the principal loan amount which is amortized at the quoted Annual interest rate.This means that your principal loan amount is simply increased by the amount of the closing cost and is therefore amortized at the quoted Annual Interest Rate. If no Private Mortgage Insurance is involved, the Annual Interest and the APR (Annual Percentage Rate) should be the same but in my experience it is usually not. Something is not adding up
ReplyJ Waterman March 11, 2017 8:42 pm
Do you have a suggestion of what the difference between the two should be? 1%? More? I will have PMI on mine as well, and I just want to be sure I'm not getting swindled on closing costs or any other hidden fees my lender might have included. And does it even matter if I will be selling the home within 15 years of my 30 year mortgage? Thanks for the help!
Replysajayra March 11, 2017 8:42 pm
Thanks for the info
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