Newsflash: APR: 4.014% but Interest Rate: 3.75%

I am trying to figure out how these numbers jive.3.75% has an effective interest rate of 3.821% when compounded 365 times a year.4.014% has a nominative interest rate of 3.935% just the same.I’m being quoted an interest rate of 3.75% with an APR of 4.014% and the math doesn’t check out.I’m not in this industry but I have a background in finance. can someone help plug the numbers?

Read more at https://www.reddit.com/r/RealEstate/comments/e8zu26/apr_4014_but_interest_rate_375/?utm_source=ifttt

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