Today’s fact
About 1 minuteMortgagesNew fact
The rate is only part of the cost
Mortgage APR includes the interest rate and certain loan charges, such as points and broker fees.
WHY IT MATTERSCompare similar loan offers using both the rate and fees. APR helps reveal costs that a low advertised rate can hide.
IN PRACTICETwo loans can have the same interest rate but different APRs because their fees differ.
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