🏡 Looking to buy a home in Colorado Springs? 🏔️ Join us in this video as we unravel the mystery of APR! 🔍What the heck is APR? APR stands for Annual Percentage Rate, and it's crucial to understand when you're navigating the world of home buying. 💰

💡 Why is it important? Because APR is not the same as your interest rate, and it can impact the cost of your loan. You'll find this magic number on page three of your loan estimate.

Imagine you have a 6.2% interest rate on three different loan estimates. Seems simple, right? But here's the twist - the APR can be different for each one. 🎢

Loan 1: 6.2% interest rate, APR 6.6%
Loan 2: 6.2% interest rate, APR 7%
Loan 3: 6.2% interest rate, APR 8%

So, what does this mean for you? The higher the APR, the more it's going to cost you to secure that specific interest rate. 📊

We get it; APR can be confusing. But worry not, we've got a little clip for you featuring a well-known financial figure trying to explain it. 😄

But remember, don't stress over the math; focus on how APR affects your decision-making process when choosing the right loan for you and your family. 🏠

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📍 719 Lending Inc.
104 S Cascade Ave, Ste. 201, Colorado Springs, CO 80903
📞 (844) 719-5363 (LEND)

⚠️ Disclaimer: This blog/video is for informational purposes only. The content is not guaranteed or endorsed by 719 Lending, Inc., nor is it an offer of credit. The information may not be applicable in all situations. Consult your mortgage advisor before acting on this information. Equal Housing Opportunity. Company NMLS: 1601989

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