Confusion over mortgage interest comparison rates is widespread and that is because the regulators laid down some pretty ill-considered guidelines. So every loan is based on an arbitrary amount and loan term that may be nothing like the loan that you are considering.

For example an annual fee of $250 has a big impact on $150,000 loan but almost insignificant on a $1.5 million dollar loan.

This outstanding calculator allows to enter your scenario and get an accurate comparison rate for each deal that you are considering