Don't be fooled. Tricky advertising, and misleading quotes are rampant. TEST your ability:

For example, when comparing loans, you were quoted the following for a $100,000 loan:  

1. Lender A has a rate of 6.000% with 0 points, 1% origination fee and $2000 in closing costs. APR 6.056%
2. Lender B has a rate of 5.750% with 2 points, 0% origination fee and $395 in lender's fees. APR 6.045%
3. Lender C has a rate of 6.000% with 0 points, and $3000 in closing costs. APR 6.055%
    

Which has the better deal?

• Lenders A & C are about equal.
• Lender B appears to have a lower rate, the lowest APR, and the lower costs. Sadly, most customer focus directly on the interest rate.

In reality, Lender B is the most expensive of the three, and a classic example of tricky advertising. Usually not until later do you realize you are paying $2000 in "points" to get that rate, plus $395 in "lender fee's", plus $2000 in other normal closing costs (appraisal, deed tax, recording fee's. title company fee's, etc.).

CONFUSED? That is the idea. That is also why we provide you with a TOTAL COST ANALYSIS that will not only compare our offer, but the offer of up to three other lenders, so that you can make an educated decision!

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