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Is it a good idea to shop for a home equity loan on the basis of comparing the APR?

April 26, 2017Apr basis comparing good home equity IDEA loan

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Is it a good idea to shop for a home equity loan on the basis of comparing the APR?

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There are risks to comparing only the APR when shopping for a home loan. For example, the calculation of APR may vary from lender to lender. Your best comparison is generally evaluating the same interest rate, for the same loan type and term, and then comparing the applicable points and total closing costs.