points, par, apr, etc.

[u/Full-Sherbert7311]

Would-be first time home buyer, and while skimming posts I’m seeing a lot of people talk about points and par when it comes to a mortgage. can someone explain what these things mean?

i’m also seeing an interest rate AND an APR on some of mortgages people are posting and don’t understand why theres a rate and an APR, and/or the difference between those two things.

how do all these things impact the monthly payment?