Understanding Truth in Lending

I’ve said it before, and I’ll say it again — buying a house isn’t easy, there’s a lot to know and you simply cannot go into it without some education. One of the more important forms in your buying process comes when you make loan application. At that time, you’ll get something called a Truth… Continue Reading

Mortgage Interest Rate vs APR

When you apply for a mortgage loan, the lender is required by the federal ‘Truth in Lending Act’ to tell you both the interest rate and the annual percentage rate (APR). This enables borrowers to know the true cost and perform apples to apples comparison of loan offers by competing lenders. Your monthly payment, however,… Continue Reading