Return Home Members Area Experts Area The best AskMe alternative!Answerway.com - You Have Questions? We have Answers! Answerway Information Contact Us Online Help
 Thursday 4th December 2008 02:29:02 PM


 

Username:

Password:

or
Join Now!

  

Home/Business & Economy/Funding
Forum Ask A Question   Question Board   FAQs Search
Return to Question Board

Question Details Asked By Asked On
different interest rates SCOOBY 03/04/04
    I received a good faith estimate from someone I am considering refinancing with at the rate of 5.375% but the the estimate reads: Annual Percentage rate 5.80%. Would you be able to explain why the figures are different? Thanks.

      Clarification/Follow-up by SCOOBY on 03/04/04 9:28 pm:
      this is on a 15 year loan. How did they reach the 5.80% figure (what formula)

 
Summary of Answers Received Answered On Answered By Average Rating
1. annual interest rate and interest rate annualized over 30 yr...
 03/04/04 kkemperExcellent or Above Average Answer
2. The Annual Percentage Rate includes the various costs and fe...
 03/05/04 LisaB4657Excellent or Above Average Answer
Your Options
    Additional Options are only visible when you login! !

vq/Fu   © Copyright 2002-2008 Answerway.org. All rights reserved. User Guidelines. Expert Guidelines.
Privacy Policy. Terms of Use.   Make Us Your Homepage. Bookmark Answerway.