What is annual percentage rate?
APR: the EBC-style disclosure rate the Truth-in-Lending Act requires on consumer home loans. Calculated under regulatory rules, it may omit some economically relevant costs and can understate the realized cost for borrowers who repay early.
Where you will use it: this term comes up in the Real Estate Finance course, and the full course glossary collects every term in one place.
Related terms
From the free Real Estate Finance course by Devon Coombs, CPA, MBA.