Kiritsis & Associates


What is the annual percentage rate (“APR”)? Kiritsis Law Group 212 922 0005

May 13, 2021

By: John Kiritsis, Esq., CPA, MBA, MS, JD, LL.M

Generally, it refers to the relative (as opposed to absolute) cost of credit, by including factors such as points, initiation fees, in addition to the regular monthly payments. Usually, the calculating and timely disclosure of the APR, maybe required by truth in lending laws. The term annual percentage rate, is rarely used outside of Wall Street. A good way to visualize the annual percentage rate, is by a similar concept that’s often discussed in the media. The concept is that your tax rate fluctuates, as you are making or not making money. The proper term for this method of taxation, is the marginal tax rate. When potential buyers are shopping around for mortgages, it is important to pay attention to this number, because that is the actual rate you are paying. Besides, the annual percentage rate, potential buyers, should also look at the credit score number, because this number maybe determinative of whether a buyer is approved for a loan, and if yes, for how much. On a final note, just because the APR is a really important number, it should be the only number you look at, such as the term period of the loan , and whether the rate is adjustable or fixed.


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