APR is the annual cost of your loan including any fees, which can include mortgage insurance, closing costs, points or loan origination fees.
An interest rate is only what the loan is costing you. Some banks may list a very low interest rate but charge you huge fees to get that rate. Other banks may offer you a higher interest rate but with little or no extra fees.
In order to compare all of your offers, you should be able to compare the APR to see which is actually the better offer.
For a free copy of Doug's book on buying a home, go to www.DougCrouse.com.
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