Unfortunately, when you get a home loan, you pay for more than just the interest rate each month. This is because there are other fees and charges involved in the mortgage process. The APR (annual percentage rate) of the loan reflects these charges, and is a broader measure of the cost of borrowing money to purchase a home.
Read MoreWhen you first get your mortgage, you’ll probably take into account the amount you’re paying as part of your overall expenses in your monthly budget, along with food, transportation, and other living expenses. But what if your mortgage payments increase?
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