Metrics to Compare
- Interest Rate and APR – Total borrowing cost.
- Loan Terms – Length of the loan and repayment flexibility.
- Fees – Origination, underwriting, and prepayment penalties.
- Customer Reviews – Look for transparency and service quality.
Questions to Ask Lenders
- What is the APR and how is it calculated?
- Are there prepayment penalties?
- How long does approval typically take?
- What documents will I need to provide?
- Do you offer rate locks or discounts for auto-pay?
Pro Tip
Get at least three quotes before committing.