Thank you Miss Hoeffer, this helped me a ton and was very well explained. Thank you for your time in making this video and putting out there.

Good video, but we need side by side comparison of a (some?) sample scenario(s). This is a theoretical explanation, but I am still uneasy about the math/numbers behind the difference of both percentages. Thank you!

Good job, thank you for a nice short general explanation. I needed a quick refresher :)

I must be a dud, I still don't understand haha.

Wow so clear and easy to understand got a new subscriber!

Thank you for your time.

no one could explain it better !!! Great energy ! Thank you

I love your energy

I love your videos, I would like to know about the difference between interest and fee, also about how the APR work on our credit cards, moreover I would like to know about credit cards and the difference between paypass and the chip credit card.

When choosing a loan should I focus on who has the lowest interest rate or lowest monthly costs?

Thank you this video was very helpful

Great video you explained this concept very well!

Great info, thank you 👍

Thank you. It finally makes sense. ✅

Thanks for the video!

Great video...Thank you and I have subscribed.

Thanks for the information it was very helpful ...

good point and very informative.

Great information, I’m considering refinancing at a 4.4 interest and 5.5 APR on a $200,000 loan with a 15yrs or 30 yrs. option. I’m definitely leaning toward the 15 yrs, due to having 23 yrs. remaining on current mortgage, what advice can you provide about these options?

Hi Lizy! Thanks for the informative video. Question: What would be a big difference in interest and apr numbers that would be a cause for concern?

Something more that I want to know the cycle and the due date, and how my interest, APRs, fees and everything when using a credit card

That was clear as mud.

Loved the content.

I enjoyed this

Great video Lizy!

Thank you Lizy

Very cool, I liked it very much and I loved you. Greetings from Morocco

so since the "interest rate" is a monthly extra fees on top of the principles that means the APR is a combination of both principles and the Interest rate? explain to me plz.

I just liked and subscribed!!

Great video

Thank you so much

So if interest rate is 5% and apr is 5.785%. If i pay all closing fees in cash or cc, is my interest rate on mortgage 5%?

Thank you

Hey Lizy , I just watched your video and I must say that it was really informative and well-made. I was wondering if I could help you edit highly engaging thumbnails ?

I like your personality so I subscribed LoL 😂

APR is a one-time payment you need to pay after which you only pay the interest rate? is this correct?

Hello, can you tell me what is a 35.98% interest rate?

Great explanation thank you! I’m starting a side hustle as a loan signing agent and was looking for a refresher on APR. This was perfect!

Im thinking about refinancing but want to make sure I make the right decision . I need help doing this can you help ?

So the interest rate would be included in the APR?

This vid has the most views on your channel, for MASSIVE reasons. but seriously, more thumbnails like this one would blow the channel up for financial information

I'm more confused now. Thank you.

So is APR calculated once the loan is repaid since costs associated with early repayment wont be relevant if there is no early repayment on the loan?

I do not understand still. So I have a lot of credit car debt. The loan I am approved for is $10,000 with 21.87% APR and it shows 17.13% interest 3 year loan. Also there is a $631 origination fee. With a $357.15 minimum payment per month. My goal is to pay $500 or $400 a month. Is this okay?

You just explained it like a bank would still not getting it just looking at you i already knew you were going to do that

One question: So if you take out a loan and you have to pay X% of interest anually , that interest you're paying is like you returning a small part of what they loaned you?

Great video... Definitely subscribing... Quick question tho. Let's say you're doing a payoff on a vehicle loan or home loan. Is the reason the total payoff amount drops because you are paying off the loan with the interest rate of the current principle balance (excluding APR?)

If your APR contains several one time fees at the beginning of a loan, does that mean that it will to change (lower) the following year?

so I think the part where I got confused was that it sounds like APR takes the amounts like fees that on their initial document are typically presented to us as fixed numbers, and then works them back into a percentage of the main loan along WITH the interest So I think I get it now: If I have $500 fee associated with a 10K loan, that's going to end up adding (or at least incorporating) something like .02 into the final APR after the interest is compounded and extrapolated and all that

If the apr is at a glance easy way to see the total cost. What is a desired apr you should try to get?

Hi Liz, Thank you so much for this video. It’s super helpful. I still have a question since the APR is including the charges and the fees for the closing cost. In this case it should be a one time thing because once it’s paid at the very beginning it’s done. I have the situation where I am planning to buy a home and they offered me the first year 3.99%, the next year 4.99%, and 3 to 30 is 5.99%, loan will have 6.49% APR. Would you please explain that to me? Lynn

I wonder if we can avoid interest and fees when withdrawing cash at the ATM :3

Truly Helpful Information Thank you. Wife and I are getting ready to buy investment property

Hi, I am doing a car lease, the interest rate is 1.25% and the APR is 3.55%, how can it be that high? 4 year lease of approximately $41k

Yep, watch out for those letters in mail with those attractive refinance rates...they want your money with their APR, which is a percentage of our loan. They attract you with their 2.49% interest rate (which has lots of variables and hard to get) and on top that they hit you with their 3.5% APR with saying no points or closing costs, which is total bolone, the APR are these fees hidden behind this fancy acronym. In sum, if you get a APR of 3.85% on a loan of $400K, you will pay $15,000.00 typically added to your loan.

Thank you, and nice to meet you and see you, but this would have been better to see this in black and white... sample scenarios...

Does paying off your mortgage in a couple of years reduce the interest you pay?

Was wondering if you think this is a good deal, seller is buying 5k in closing and 5k Ernest money (towards closing also) to start escrow and extra 3k out of pocket to get my interest rate at 2.875% va home loan for 30 years

I’m just trying to find out why my $1,100 loan turned into me having to pay off $5,800 because for some reason my APR is 580% and what can I do now to lower it?? Please answer, I’m desperate for help right now

Thanks

I’m trying to get a loan and there’s a interest and apr? I’m really confused So will I be paying interest and an annual fee on top of the loan? :/

So we shouldn't even worry about Apr since we can't control the figures in the apr. ?

Great video. One question, if closing costs and fees (title, appraisal) are a one-time payment and not financed how is the APR not the same as the note rate? Thank you and I have subscribed!

Does apr and interest rate mean the same in mortgage and your bank account?

Can someone just tell me if im paying interest or APR when I pay a mortgage payment? All this extra crap is so needlessly confusing

Doing these videos without a board that someone can screenshot as a memory tool is not ideal, but I get it, it takes more time to do so

There’s so many “interest rates” it’s really confusing. Like… -Feds interest rates hikes -mortgages and credit card rates -rate of return like in CDs Are they related in anyway?

Awesome

Great video How is a consumers interest determined?

Sorry, but I need it explained slowly and with simple examples...all the Fees? Then, then the closing cost is embedded in the APR? Then closing should be only what's not mandatory...property tax, local legal requirements, right?

Interesting information. APR% is total of what? I have to pay 3% plus 3% for what? I have to pay a total 6% on a $100,000 loan for 30 years? I'm still confused. 🤔😁✝️🇺🇸

Can the APR be lower if I pay more money in down payment ??

You have to be careful when using the term APR since it is an ambiguous term. What confuses in consumer loan and bank statements is more often the stated APRC (Annual Percent Rate of Cost) . The APRC is formally defined as: The nominal annual interest level that equates the present value of all drawdowns with the present value of all repayments (the present value cashflow=0) . (In definition it is written as a mathematical equation - two geometric sums equated). This is the official definition used by both FCA and EU regulations. It is not in itself a terribly complex thing to explain but it takes a bit more math and an hour and half or so to explain to a layman. It is often misunderstood and even banks calculate it incorrectly. Especially when used for very short loans (a couple of months) where it can give numerically very high values (can easily be >> 10000%) due to the often very high fees on short loans. The detailed calculation is also dependent on the date convention used (the simplest being if you take into account leap year or not). Formally then EU regulation is not clear on this (and worse - is even self contradictory). However, the FCA regulation clearly states that leap years needs to be taken into consideration and that a month is 365/12 days.

How yo calculate apr?

Damn. Watched the whole video. Still confused lol

I love you I love you

So APR is a one time fee

What's more important? Interest rate or Apr? Does it matter?

so they are both together ?

I'm not an expert, but it seems to me that you should focus on the interest rate, and then bring the fixed costs into the calculation separately. From what I'm hearing from this video, APR tries to combine the two, with no doubt very confusing consequences!

So not only are they charging you an interest rate for letting you borrow the money for the house payment alone but they are charging you another higher interest called the APR for that same loan plus the other paperwork fees for the loan. Wow , that is a big rip off

I thought APR and APY were BOTH used on a home loan

Got @2.75 but apr @2.99 and thank you for the information.

Video idea: EAR vs APR and wether the laws should change.

I still don’t get it

Well presented and also you are very beautiful .. Thanks

Interest Rates could feasibly go down much further because Scientists tell us, actually Matter (solids) only begin to form at -273.15 Celsius or 0 degree Kelvin. So its really at 0 degree Kelvin that anything should start So it is possible for the Central Bank rates to go down to -273.15

Very informational, but background music is irritating. Why would someone need background music while talking.

5 minutes of example with numbers is better than 500 minutes of theoretical explanation. Good video though :)

👍

Yup, still lost

Ugh wat u say again

Music is distracting

I am worried and lost , my loan officer never communicates with me so I don’t know what’s what

You should quote an example and solve a numerical. That's it.

Still don't get it , so why not saying you interest rate is you APR . Isn't that simplistic that way 🤔

2.75% and apr 2.99% $400k mortgage.

This music is way too loud.

Great info but it is really amazing what we allow banks and other humans to do in society. Such a shame.

My head hurts