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Evaluating competing mortgage loan  deals can be confusing.

One tool that can help is the Annual Percentage Rate, or APR, which represents the total cost of credit, including fees, expressed as an annual rate. A mortgage loan with an interest rate that is percentage points below another mortgage loan may seem more attractive, but if it has high fees attached to it, the APR may show that the second mortgage loan may actually be more attractive over the term of the mortgage loan . So be sure to find out what the APR is on any potential mortgage loan -- by law, it's part of the Truth in Lending disclosure but remember to compare apples to apples.