Mortgage basics: The difference between interest rate and annual percentage rate

Read transcript

Learn how the interest rate and APR affect your home loan.

 

If you’re new to the home loan process, you might be surprised to see two different rates on your mortgage agreement: your interest rate and your annual percentage rate (APR). That duality is commonly misunderstood. Learn the difference between interest rate and APR and the strategy involved in choosing the right rate.


Find our current interest and APR rates.

Related content

Co-signing 101: Applying for a loan with co-borrower

Read more

Tips for realtors to help clients get their homeownership goals back on track

Read more

Saving for a down payment: Where should I keep my money?

Read more
Start of disclosure content

Loan approval is subject to credit approval and program guidelines. Not all loan programs are available in all states for all loan amounts. Interest rate and program terms are subject to change without notice. Mortgage, Home Equity and Credit products are offered through U.S. Bank National Association. Deposit products are offered through U.S. Bank National Association. Member FDIC.