Definition of mission for Students. 1 : a task that is assigned or begun. 2 : a task that is regarded as a very important duty She thinks of teaching as her mission. 3 : a group of missionaries. 4 : a group of people sent by a government to represent it in a foreign country.
15-Year Fixed-Rate Mortgage: The payment on a $200,000 15-year Fixed-Rate Loan at 2.875% and 70.00% loan-to-value (LTV) is $1369.18 with 2.125 points due at closing. The Annual Percentage Rate (APR) is 3.311%. Payment does not include taxes and insurance premiums.
When youâre looking at 40-year mortgage rates and 30-year mortgage rates those fees are spread out over a longer period of time. The APR probably wonât be much higher than the interest rate. But for 20-year mortgage rates, 15-year mortgage rates and 10-year mortgage rates the difference between the interest rate and the APR will likely be greater.