An index of the cost of a loan based on the standard APR but adjusted for the amount of time the borrower expects to hold the loan.
Related information about modified annual percentage rate (APR):
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Definition of modified annual percentage rate (APR): An index of the cost of a loan based on the standard APR but adjusted for the amount of time the borrower ...
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You may want to also ask for a modified Annual Percentage Rate (APR) spreadsheet that combines costs over the years you plan to reside in your home.
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Modified annual percentage rate (APR) The modified APR is an index of loan cost based on the standard APR and adjusted for the time the borrower expects to ...
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Modified annual percentage rate (APR): The modified APR is an index of loan cost based on the standard APR and adjusted for the time the borrower expects to ...