Kanetix Forum

I might be asking you a bunch of questions in the next little while....What is Annual Percentage Rate (APR)?

Ask away!

Annual percentage rate, otherwise known as APR, is the total finance charges for a loan. It is expressed as a percentage.

APR takes into account the total cost of a mortgage (including interest, closing fees, lender fees, and other changes), over the life of your loan.

Paul Sidhu, Principal Mortgage Broker at KTX Financial Ltd.

Neither Kanetix® nor the KanetixForum.ca is a mortgage broker or agent. Although this information has been passed along to you from KTX Financial through the Forum, we are not responsible for the opinions expressed by them. Mortgages can be complicated. When reading these answers, keep in mind each person¿s situation is unique. Individual responses may vary depending on your lender, geographic location, and specific circumstances. If you have a similar situation, always speak with your mortgage provider, or a licensed mortgage representative, for terms and conditions that may apply to you.

Thanks Paul. Fast response time! I'll be sure to ask any new questions on here!