Annual Percentage Rate or APR allows you to compare the true cost of your mortgage loan.
It incorporates the interest rate plus fees and other costs, into a single percentage rate that helps you determine how much the mortgage will actually cost you.
This is really helpful when comparing multiple offers. If you see an offer with a much higher APR, look to see what fees are being charged.
REMEMBER: The Lowest Rate Isn't Always the Best Deal.
Calculate the annual percentage rate for a loan.
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