The APR of a loan can vary significantly from the interest rate because of
various fees associated with the loan, including origination fees and administration fees.
The APR takes into account
the various fees associated with the loan, which is why it is often higher than the interest rate.
Not exact matches
Mortgage
loan closing costs: Additionally, though you may cut the cost of your mortgage by swapping into a cheaper home and refinancing, there are
various closing costs and
fees associated with securing new mortgage terms that may cancel out those savings.