Questions and Answers about Mortgage Financing
Financing does not have to feel like a maze of technical terms. At FINOVA, we believe clarity is the first step towards a smart decision. Explore our Practical Guides and FAQ centre to understand the financial language and every step of the process — without fine print and without complications.
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What is APR (TAEG), and how does it affect my decision?
TAEG (APR) represents the total cost of the loan, including the nominal annual interest rate (TAN) and other lender charges. It is expressed as an annual percentage of the total credit amount. It includes interest, fees, expenses, current account maintenance fees and insurance required to obtain the loan. It is one of the best indicators for comparing bank offers, as long as they have the same term and repayment structure. The lower the TAEG, the cheaper the loan tends to be.
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