At this point in our home buying series, you should have a solid idea of what the home buying process looks like. In Chapter 8, we discussed the dos and don’ts of home buying and how to avoid making common buyer mistakes. In this chapter, we’ll go over what APR is and explore the other fees commonly associated with home buying. So, what is APR? From credit cards to mortgages, APRs can be one of the most confusing aspects of securing a loan. While monthly or annual interest is rather straightforward, APRs encompass extraneous fees that aren’t immediately obvious. A higher APR can significantly ..read more

This article includes general information. Mortgage laws vary by state. Contact a mortgage lender in your state for specific details. Now that you have a better understanding of what APR is and how that can impact your mortgage loan, we’ll dive into what closing costs are and what’s included in closing costs. Before you can make an offer on a house, it’s important that you have an idea of all the additional costs that come with buying a home, such as closing costs.  It’s easy to overlook these costs, but they can quickly add up and end up costing you a lot more than what you’ve saved for ..read more