Posted on: 31st Mar, 2009 12:36 pm
Can you tell me if the APR id effected by the loan type/amoritization type of your loan. If the loan is an interest only and adjustable will that cause a change in the APR calculation?
Hi jennya
As far as I know, the APR is effected by the loan type/amortization type. However, if you are comparing an interest arm and an arm, then I don't think the apr will be effected. But if it's a interest only fixed loan and an arm, then the apr will get effected.
Thanks.
As far as I know, the APR is effected by the loan type/amortization type. However, if you are comparing an interest arm and an arm, then I don't think the apr will be effected. But if it's a interest only fixed loan and an arm, then the apr will get effected.
Thanks.