Get the Wrong Loan by Comparing APR

APR is supposed to help us get the best loan.

For most borrowers, it'll lead you astray. While APR takes closing costs and rates into account, it also makes some dangerous assumptions. You're not always comparing apples to apples, and most people do not keep a loan around forever.

Find out how APR can lead you to the wrong mortgage loan, and what you can do about it.

Further reading:

• Free Online APR Calculator
• APR - Overview and How to Calculate