|
|
|
|
 |
|
Q
:
|
What's APR? |
|
A
: |
Annual percentage rate (APR)
The APR is a measure of the cost of credit, expressed as a nominal, yearly rate. It relates the amount and timing of value received by the consumer to the amount and timing of payments made. |
| |
|
Q
:
|
What is a Good Faith Estimate? |
|
A
: |
Required by federal law, the Good Faith Estimate (GFE) is a written list of the estimated closing costs associated with your mortgage transaction, including the lender's charges along with the local closing agent's charges and fees. It also includes estimated amounts for real estate property taxes and homeowner's insurance.
|
| |
|
|
 |
|