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TIL

FHA Fees: Up, Up, and Away

Getting a Mortgage?  Focus on the A.P.R., Not the Interest Rate One of the least remarked — but most important — numbers in residential real estate is the difference between a loan’s “face” interest rate, and what’s called the “A.P.R.,” or annual percentage rate. The latter captures the interest rate plus all the costs and...
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(FHA) Loan Riddle

Q:  When is a 3.75% FHA loan a better deal than a 3.5% FHA loan? A:  When the 3.75% loan is (a lot) cheaper to get. Consumers shopping for a mortgage tend to focus only on the face rate of the mortgage. That’s a mistake, because the total cost of the loan breaks down into two...
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