Annual Percentage Rate – Scottsdale Real Estate
by
Jeff Daley
The Key To Comparing Loans:
Mortgage applicants are sometimes confused when they find out the annual percentage rate (APR) for a loan is higher than the quoted interest rate. The higher APR expresses how much the borrower is really paying for the loan – interest rate, points and most (but not all) loan fees – over the life of the loan.
Looking at the APR makes it easier to compare mortgages side by side. Only for example (current rates will vary), one lender may offer a 30-year mortgage for $100,000 at 5% with 1.5 discount points ($1,500) and $2,000 in fees. That stacks up to an APR of 5.316%. Is it a better deal than another lender’s offer of 4.75% with 2 points ($2,000) and $2,500 in fees? The second loan’s APR would be 5.153%, making it seem like the better deal. And it would be, providing the borrower owns the home long enough for lower monthly payments to recoup higher up-front costs.
The second loan would save the borrower $15.17 in monthly principal/interest payments. However, the borrower would have to own the home for almost 66 months (about 5.5 years) before savings would equal the higher cost of fees and points ($1,000 $15.17 = 65.92). A borrower who plans to sell sooner than 66 months would save money taking the first loan with the higher interest rate and APR but with lower up-front costs.
Lenders must disclose both the nominal interest rate and the APR on the “Good Faith Estimate” when you apply for a loan. That said, the APR will not account for closing costs such as title examination and title insurance premiums, nor fees for appraisals, document preparation or credit report. Application fees may or may not be included. You can run your own APR calculations at the website: www.TinyURL.com/d26hz6s.
Scottsdale Real Estate | Luxury Valley Homes:
Real Estate In Scottsdale AZ:
Scottsdale, AZ is not a huge city but enjoys the sophistication and amenities of a large city. New homes are being built but it is fast being built-out because land for building sites is increasingly hard to find. It’s one of the reasons Scottsdale real estate in Arizona is enjoying higher appreciation than most communities.
If you’re looking to buy Scottsdale real estate, for your next home, you can treat it as a new adventure, even a new way of expressing yourself. It’s about experiencing those exquisite moments that leave you feeling energized, enriched and renewed. And it’s about creating memories that will inspire and delight you for a lifetime.
Scottsdale Real Estate in Arizona is our specialty. Our team is committed to making the buying and selling of Arizona real estate a pleasurable and rewarding experience. Our website allows you to search all active real estate listings in every city in Maricopa County island including Scottsdale real estate, Carefree, Cave Creek, Chandler, Glendale, Mesa, Paradise Valley, and Phoenix. The site is easy to use and navigate through the property searches.
Featured is the finest Arizona Valley homes for sale, condos and townhomes, that Scottsdale and the surrounding cities have to offer. Contact us today! To find out how we can be of assistance to you.
– Luxury Valley Homes Property Search:
LuxuryValleyHomes.com has become Arizona’s Valley of the Sun real estate resource on the internet. Our easy to use search engine combines all of Scottsdale and Valley city MLS databases and allows you to search all Arizona properties for sale in every Valley city.
It allows you to receive Daily Email Alerts of new Arizona valley real estate listings; price changes of properties that meet your search criteria plus you can also save multiple searches with unique names and save favorite properties for tracking purposes. You can also access your account anytime and change the frequency of the email alerts, share them with friends, know your information is secure and research market trends with ease!
– Selling Your Arizona Property in Scottsdale, Paradise Valley, Carefree or Phoenix?
The Luxury Valley Homes (LVH) team are a highly qualified team of professionals that are committed to providing the highest quality of service in the industry in Scottsdale and all the Valley cities. If you are looking for a real estate team that is highly motivated, friendly, professional, honest, highly skilled and hard working, contact us today!
Our market knowledge of real estate in Scottsdale and the other valley cities will net you $1000’s more in your pocket. Selling Scottsdale real estate in Maricopa County is our specialty.
– Discover Scottsdale:
Arizona has a population of 5,939,292 and a large part of that is in Maricopa County that makes up the Valley of the Sun with nearly 3,635,528 residents. Scottsdale Arizona stretches 31 miles in length and has a diverse topography and elevation changes. In the high Sonoran Desert it can be as much as 10 degrees cooler than downtown Scottsdale. Scottsdale’s widest point is 10 miles while the narrowest point is less that 2 miles. There is a location in Scottsdale where you can stand on the borders of Scottsdale, Phoenix, and Paradise Valley, all at the same time.
When you think about Scottsdale real estate it’s hard not to see how beautiful and captivating Scottsdale really is. The high sonoran desert has a beauty all of its own, the mountains create a vibrant array of colors from the sun and clouds that meander across the skies. From the setting sun to the bright tropical flowers, to the deep blues of our skies gives you a feeling of paradise. Luxury valley homes in Scottsdale offers family homes, vacation homes. town homes and condos that are available with easy access to all of our cultural centers and outdoor activities.
– Scottsdale Real Estate | Luxury Valley Homes Arizona:
About Scottsdale Real Estate: The Luxury Valley Homes Scottsdale Arizona real estate website is owned by RJ Daley & Daley, PLLC, and doing business as Luxury Valley Homes. This is a team of agents specializing in Scottsdale real estate, helping both buyers and sellers with their real estate requirements. Our REALTORS provide professionalism, integrity, relocation counseling, personal attention, and market expertise.
On our site you can customize your search for any metro area real estate, find neighborhood information, and read the latest Luxury Valley Homes Scottsdale Real Estate Arizona market news available at (http://www.scottsdalerealestateusa.com/).
Veteran’s Use your $417,000 VA Loan with $0 down and no PMI. (Private Mortgage Insurance) Interest rates are at historic lows and you can refinance or buy a new home. There are some myths associated with using a VA loan so we have provided details that dispel those myths. You can read more about this at Veteran Loans (http://www.scottsdalerealestatearizona.com/veteran-loan.html). We’ve been there and are uniquely capable of helping you find a house you can call home. Just call us at (480-595-6412) or email us at (jeff@luxuryvalleyhomes.com).
For more information, please visit our
website
.
Jeff Daley
is a REALTOR and owner/agent of Luxury Valley Homes real estate. He is a member of the International Institute for Luxury Home Marketing and has taken specialized training in the selling and marketing of upper-tier homes.For more information, contact Jeff Daley at Luxury Valley Homes in Scottsdale, Arizona at 480-595-6412 or
.
Article Source:
eArticlesOnline.com }