Posts Tagged ‘APR’

January 4, 2010 0

Max FHA Origination Fee – ELIMINATED

By Scott in Big Changes, Choosing a Lender, FHA, Rates & Fees

Effective January 1, 2010 the Department of Housing and Urban Development (HUD) who runs the Federal Housing Administration (FHA) modified their policies surrounding the maximum amount a mortgage lender may charge for “origination” fees on FHA mortgages.  This is no surprise due to the recent changes the the HUD and GFE that went into effect [...]

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January 6, 2009 5

What is APR or Annual Percentage Rate?

By Scott in Common Questions, Rates & Fees

One of the most common incorrectly explained and misunderstood topics within the mortgage business is the definition of APR.  I will do my best to unravel the mystery and explain it in a way that is clear and understandable so that next time you ask your lender about APR, you can correct their explanation about [...]

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