Find out the true cost of any home loan product
We all know how important interest rates are when it comes to home loans. However, there is another rate that borrowers should look at before selecting a home loan, and that is the comparison rate. A rate may look attractive at first, but it may not be suitable for your personal situation after considering the various fees and charges that come attached to a loan.
A comparison rate shows the true cost of your home loan based on a set of assumptions so that borrowers do not need to calculate how much it will cost them if they decide to hold onto the loan for the long term.
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