Quote:
Originally Posted by CateP
True. It is always important to check points when looking at rates.
I have no affiliation with Laconia Savings at all ,but I DID like how you can see your closing costs right on their web site. Very helpful.
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The true cost of a loan is the APR (Annual percentage rate) It takes into account all of the costs of getting that loan including points. The interest rate is how the payment is determined and is different than the APR.
Published rates are sometimes different than actual rates offered because some websites do not update every time the rates change. If you are shopping just for rate you should call each lender within a 1-2 hour time frame so that they are all looking at the same day, and time, rate sheets.