A loan with a 6.99% interest rate and a 5% origination fee can be significantly more expensive than an 8.25% loan with zero upfront fees.
APR vs. Interest Rate: How Origination Fees Skew Borrowing Costs
A loan with a 6.99% interest rate and a 5% origination fee can be significantly more expensive than an 8.25% loan with zero upfront fees.