How can I compare two different loan offers?

You should compare the simple interest rate, the APR, any fees and any discount points paid. In order to compare two loans you should obtain a GFE (Good Faith Estimate) from both lenders. Some lenders may advertise low mortgage interest rates, however they have higher origination and processing fees that raise their APR to the same or higher levels than a lender advertising a slightly higher simple interest rate.

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