2 APR = Annual Percentage Rate. Your actual APR will be determined at the time of disbursement and will be based on your application and credit information. Rates quoted assume excellent borrower credit history. This is not a firm offer of credit. You will need to submit a credit application for loan consideration. Any savings shown above is a reduction of your monthly payment and not necessarily a reduction in the finance charges assessed over the life of your loan. Your actual savings will depend on the terms on which you refinance.