- May 24, 2017
- Posted by: Daniel Rowe
The truest cost of a home loan. This is a measure of the cost of credit expressed an yearly rate that includes interest and other charges. By federal law, all lenders must follow the same rules to ensure consistently accurate APRs, so these are a good way for you to compare the cost of loans. Your APR is going to be higher than the simple interest rate of your mortgage because it includes additional charges.