Re: Have a question about Refi--rate vs. APR
01-13-2009 09:40 AM
The bottom line is that your monthly payments are going to be calculated using the 4.25% interest rate. Use any online mortgage calculator, plug in your principal, rate, and length or mortgage, and you'll get exactly what you'll have to pay each month (principal and interest, not any escrowed taxes or insurance). It should match what your lender is quoting.
4.25% is a great rate!