APR (Annual Percentage Rate)

APR is a standardized metric federal law requires lenders to disclose, designed to let borrowers compare loans apples-to-apples. It rolls the base interest rate plus origination fees, discount points, and some closing costs into a single annualized percentage.

Two loans can have the same interest rate but very different APRs if one has higher fees. Always compare APR, not just rate, when shopping lenders.

Why it matters for Milo customers

Milo discloses APR on every loan because origination fees affect the true cost. A 8.75% interest rate with a 2% origination fee comes out to ~10.75% APR on a crypto-backed loan. Always compare APR, not just the headline rate.

Related terms

Interest RateDiscount PointsOrigination FeeClosing Costs
AppraisalAsset Depletion Mortgage

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