Skip to content

APR Explanation?

Answered by: 

Question: 
How would you explain to a borrower what APR is? I always got a lot of calls asking why the rate on TIL differs from the one on GFE. My answer to them was "APR is the cost of the loan." How would you elaborate? It seems that they are not always satisfied with my answer.

First published on 04/18/2005

Filed under: 

Banker Store View All

From training, policies, forms, and publications, to office products and occasional gifts, it’s available here:

Banker Store

hot right now

image description

Looking for effective, convenient training on a particular subject?

BOL Learning Connect offers more than 200 courses ON-DEMAND or on CD ROM from AML to Reg Z and every topic in between.

Search Topics