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What is an APR?

May 17, 2022

Transcript

An APR, or annual percentage rate, is the total annual cost you pay to take out a loan or line of credit. If you have credit cards, personal loans, and/or a mortgage—your APR is the total interest owed over the course of a year, plus any other lender charges, such as points and fees.

Tags:

credit card
mortgage
student loans

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This information provided is for informational purposes only and does not substitute consultation with a legal, tax or investment professional for important financial decisions. Laurel Road assumes no liability for loss or damage incurred by use of the information provided. Please visit laurelroad.com for full product details, terms and conditions.

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