What is the difference between the interest rate and the A.P.R.?

Our Rates

We have the Lowest rates in the Nation and well below the National Average!! To the Left represents a National Average most homeowners are paying not using Bryant Financial. Because rates adjust multiple times throughout the day it is best to contact us direct to get the lowest and most accurate rate currently available. Contact us today and Experience why America considers us the BEST in Mortgage Lending.

What is the difference between the interest rate and the A.P.R.?

You'll see an interest rate and an Annual Percentage Rate (A.P.R.) for each mortgage loan you see advertised. The easy answer to "why" is that federal law requires the lender to tell you both.

The A.P.R. is NOT your interest rate and does not effect your payment. The A.P.R is a tool for comparing different loans, which will include different interest rates but also different points and other terms. The A.P.R. is designed to represent the "true cost of a loan" to the borrower, expressed in the form of a yearly rate. This way, lenders can't "hide" fees and upfront costs behind low advertised rates.

While it's designed to make it easier to compare loans, it's sometimes confusing because the A.P.R. includes some, but not all, of the various fees and insurance premiums that accompany a mortgage. And since the federal law that requires lenders to disclose the A.P.R. does not clearly define what goes into the calculation, A.P.R.s can vary from lender to lender and loan to loan.

The A.P.R. on a loan tied to a market index, like a 5/1 ARM, assumes the market index will never change. But ARMs were invented because the market index changes and makes fixed rate loans cheaper or more expensive to make -- that's why they're variable rate in the first placed!

So, A.P.R.s are at best inexact. The lesson is that A.P.R. can be a guide, but you need a mortgage professional to help you find the truly best loan for you. Call us today to 281-860-7649 x. 103 or Apply Online for the lowest rates in the Nation.

Note when you're browsing for loan terms that the A.P.R. will not tell you about balloon payments or prepayment penalties, or how long your rate is locked. Also, you'll see that A.P.R.s on 15-year loans will carry a higher relative rate due to the fact that points are amortized over a shorter period of time.

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BRYANT FINANCIAL is Licensed under the laws of the STATE OF TEXAS and by State law is subjected to regulatory oversight by the TEXAS DEPARTMENT OF SAVINGS AND MORTGAGE LENDING. Any consumer wishing to file a complaint against BRYANT FINANCIAL should complete, sign, and send a complaint form to the TEXAS DEPARTMENT OF SAVINGS AND MORTGAGE LENDING, 2601 NORTH LAMAR, SUITE 201, AUSTIN, TEXAS 78705. Complaint forms and instructions may be downloaded and printed from the department's web site located at WWW.SML.STATE.TX.US or obtained from the department upon request by mail at the address above, by telephone at its toll-free consumer hotline at 1-877-276-5550, by fax at (512)475-1360, or by email at SMLINFO@SML.STATE.TX.US . The department maintains the MORTGAGE BROER RECOVERY FUND to make payments of certain types of judgements against a MORTGAGE BROKER or LOAN OFFICER. Not all claims are compensable and a court must order the payment of a claim from the RECOVERY FUND before the department may pay a claim. For more information about the RECOVERY FUND, please consult subchapter F of the MORTGAGE BROKER LICENSE ACT on the departments web site referenced above.