Zillow Advice: Mortgage Rates - What should I look at when getting a conventional 30 year loan, APR or interest rate? http://www.zillow.com/advice-thread/What-should-I-look-at-when-getting-a-conventional-30-year-loan-APR-or-interest-rate/463523/ Zillow Advice | Zillow Real Estate What Justin Sheftell says ... http://www.zillow.com/advice-thread/What-should-I-look-at-when-getting-a-conventional-30-year-loan-APR-or-interest-rate/463523/ What Justin Sheftell says is 100% correct. <br/><br/>If you really want to boil it down to the easiest way to compare it will be the adjusted origination charge and note rate. The only other thing the lender has any control over would be if they wanted to give a lender credit.<br/><br/>Greg Thu, 11 Oct 2012 00:55:00 GMT http://www.zillow.com/advice-thread/What-should-I-look-at-when-getting-a-conventional-30-year-loan-APR-or-interest-rate/463523/ 2012-10-11T00:55:00Z APR gives a&nbsp; borrower ... http://www.zillow.com/advice-thread/What-should-I-look-at-when-getting-a-conventional-30-year-loan-APR-or-interest-rate/463523/ APR gives a&nbsp; borrower the bottom-line number so you can easily compare to rates of other lenders. It is useful in shopping for a loan.<br/><br/>The APR represents the actual yearly cost of funds&nbsp;over the term of a loan rather than just the rate. It includes any fees or additional costs associated with the transaction. <br/><br/>ie: all the expenses associated with the loan. If one lender charges more points than another you will see this reflected in the APR.<br/> Wed, 10 Oct 2012 23:52:00 GMT http://www.zillow.com/advice-thread/What-should-I-look-at-when-getting-a-conventional-30-year-loan-APR-or-interest-rate/463523/ 2012-10-10T23:52:00Z Note Rate and Adjusted Origination ... http://www.zillow.com/advice-thread/What-should-I-look-at-when-getting-a-conventional-30-year-loan-APR-or-interest-rate/463523/ Note Rate and Adjusted Origination Fee are the 2 important items for comparison.&nbsp;&nbsp;&nbsp; <br/><br/>APR out of context has little relevance, an APR is calculated over a 30 year period, the average life of a 30 year loan is drastically less than 30 years. Wed, 10 Oct 2012 23:41:00 GMT http://www.zillow.com/advice-thread/What-should-I-look-at-when-getting-a-conventional-30-year-loan-APR-or-interest-rate/463523/ 2012-10-10T23:41:00Z The problem with APR is not ... http://www.zillow.com/advice-thread/What-should-I-look-at-when-getting-a-conventional-30-year-loan-APR-or-interest-rate/463523/ The problem with APR is not all lenders agree on which fees are APR fees and which do not. The sad thing is the APR, especially in the&nbsp;beginning&nbsp;when you are still in shopping mode, can vary from lender to lender even if they have the same exact rate/fees.<br/><br/>You really want to look at the rate and fee structure and you can ignore the APR as far as I am concerned.<br/><br/>Sincerely,<br/>Greg Wed, 10 Oct 2012 23:32:00 GMT http://www.zillow.com/advice-thread/What-should-I-look-at-when-getting-a-conventional-30-year-loan-APR-or-interest-rate/463523/ 2012-10-10T23:32:00Z Fees! Rates change several ... http://www.zillow.com/advice-thread/What-should-I-look-at-when-getting-a-conventional-30-year-loan-APR-or-interest-rate/463523/ Fees! Rates change several times daily, so you can go with the lender you like best when you're ready to submit an offer. Ask for a written list of fees based on the same purchase price and interest rate, so you're comparing apples to apples.<br/><br/>Regards,<br/><br/>Cory La Scala, REALTOR<br/>Independence Realty<br/>Lic # 01443391 Wed, 10 Oct 2012 23:16:00 GMT http://www.zillow.com/advice-thread/What-should-I-look-at-when-getting-a-conventional-30-year-loan-APR-or-interest-rate/463523/ 2012-10-10T23:16:00Z Look at both, but know the ... http://www.zillow.com/advice-thread/What-should-I-look-at-when-getting-a-conventional-30-year-loan-APR-or-interest-rate/463523/ Look at both, but know the difference. The APR will attempt to tell you how much you are paying, over the life of the loan. More fees/points will result in a higher APR.<br/>The interest rate is just that, the amount of interest you will be paying on the note. This rate will determine your monthly payment in principal and interest.<br/>Compare lenders and use both of these - For example, one lender may charge more fees/points for the same interest rate than the other, and the APR will show you this (higher).<br/><br/>It can be confusing, I hope this helps!<br/> Wed, 10 Oct 2012 22:31:00 GMT http://www.zillow.com/advice-thread/What-should-I-look-at-when-getting-a-conventional-30-year-loan-APR-or-interest-rate/463523/ 2012-10-10T22:31:00Z Are you asking about comparing ... http://www.zillow.com/advice-thread/What-should-I-look-at-when-getting-a-conventional-30-year-loan-APR-or-interest-rate/463523/ Are you asking about comparing one lender against another (or more)? Wed, 10 Oct 2012 22:00:00 GMT http://www.zillow.com/advice-thread/What-should-I-look-at-when-getting-a-conventional-30-year-loan-APR-or-interest-rate/463523/ 2012-10-10T22:00:00Z Good Afternoon,The APR is ... http://www.zillow.com/advice-thread/What-should-I-look-at-when-getting-a-conventional-30-year-loan-APR-or-interest-rate/463523/ Good Afternoon,<br/><br/>The APR is the true "cost" of the loan including all the fees, prepaid interest, and other costs financed in the loan. If you were to pay ALL of the fees/expenses of the loan out of pocket, then the APR would be the same as the NOTE rate. <p>Good luck!</p><p>Paschal</p> Wed, 10 Oct 2012 21:35:00 GMT http://www.zillow.com/advice-thread/What-should-I-look-at-when-getting-a-conventional-30-year-loan-APR-or-interest-rate/463523/ 2012-10-10T21:35:00Z