Annual Percentage Rate (APR)

Annual Percentage Rate (APR)

An annual percentage rate (APR) is a broader measure of the cost of borrowing money than the interest rate. The APR reflects the interest rate, any points, mortgage broker fees, and other interest rate. Learn how to compare APRs (cfpb.gov/askcfpb/135) Appraisal fee An appraisal fee is the cost of a home appraisal of a house you plan to buy or already own. Home appraisals provide an independent assessment of the value of the property. In most cases, the selection of the appraiser and any associated costs is up to your lender. Learn more about the homebuying process (cfpb.gov/owning-a-home/).