Dr. John Theodore is considering the purchase of a new home. The current market value of the house he has chosen is $500,000. He's going to put 15% cash down. He is looking at a 15 year mortgage at 4.7% interest. He also expects to have PMI insurance of $2,400/year (this will be rolled into his payments). The loan fees for this transaction is expected to be $4,500. Calculate the APR of this transaction.