Jargon : What do these mean? LTV%, APR%, Rate%, '000, Cost and Net

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ejdg9

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basically i got a quote from a mortgage broker earlier and i can read most of it but there are a few columns that have me kinda baffled

the layout of the columns goes like this

Lender, LTV%, APR%, Rate%, '000, Cost and Net

what do the "Rate%" and "'000" columns refer to?
i have always read that apr is the truest way to compare mortgages but i dont want to blindly disregard other information that could be important
 
Re: care to bust some jargon for me?

Rate is the rate of interest. APR is is the annual rate of interest you will be charged on a loan. It takes account of all the costs involved over the term of the loan, such as any set-up charges and the interest rate.

'000 is the cost per thousand borrowed. This gives you the cost of your monthly repayments for every thousand euro you borrow over a given number of years. So, if the cost per thousand is €5.82 and you are borrowing €250,000 over 25 years, your monthly repayment will be €1,455 (5.82 x 250).
 
i see, so the rate is just the rate of interest, and the apr is the rate of interest, plus whatever charges the bank put on the loan too

thanks for that, i never would have figured that out on my own
 
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