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What is a home loan comparison rate?

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Ever stumbled upon the term ‘comparison rate’ while checking out home loans and wondered what it’s all about? You’re in the right place! This article is going to break down what a comparison rate is and why it’s something you shouldn’t overlook when looking for a home loan. A comparison rate isn’t just about the interest rate; it includes other fees and costs, giving you the full picture of what you’ll be paying. It’s like the full price tag of your loan. Understanding this rate is key because it helps you compare different loans properly, making sure you’re getting a great deal. Let’s dive in and find out how this works and why ScaleMortgage is your go-to for navigating these waters.