There is a big difference between a loan’s interest rate and the annual percentage rate
(APR). If your lender charges you fees such as a closing fee or monthly processing fee,
then the APR will be quite a bit higher than the stated interest rate. Calculate the all
in cost of a loan using our APR calculator.
Including fees and other closing costs, your loan’s APR is --, or -- higher than your interest rate. The -- interest you’ll pay is determined by applying your loan’s -- interest rate to the monthly balance, while the APR also takes into account the -- in fees you’ll pay over the course of the loan. Try to find a loan with the least amount of fees to avoid hidden costs.