APR takes the interest rate of the loan and adds it to certain fees paid by the borrower at closing, including the point(s) and lender fee displayed on each offer. APR shows which loan is less expensive over the full term of the loan.
The APR shown here does not include Private Mortgage Insurance (if applicable), prepaid interest, and other third-party fees charged to close the loan and may be different than the APR disclosed by the lender on their Loan Estimate and Closing Disclosure.