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 hold the loan.

Related Terms:

1. Adjustable Rate Mortgage (ARM)
2. Annual Percentage Rate (APR)
3. Adjustable Rate Mortgage (ARM)
4. Base Loan Amount
5. Convertible Adjustable-rate Mortgage