Is it a good idea to shop for a loan by comparing APRs?
Some people advise shopping for mortgages by comparing APRs—the total cost of the loan, including points, origination fees, private mortgage insurance, etc. There are risks to comparing only the APR when shopping for a home loan. For example, the calculation of an 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. DiNardo Home Mortgage can help you compare “like” programs and quote you all of this information up-front so you don’t have any surprises during your loan process.
