Finance
A Virginia borrower who applies for a conventional mortgage receives a Loan Estimate. If the borrower wants to compare lenders, the most important number to compare is:
AThe monthly payment only
BThe Annual Percentage Rate (APR) which reflects the true cost including fees✓ Correct
CThe loan origination fee only
DThe appraised value
Explanation
The APR incorporates the interest rate plus most fees (origination, points, mortgage insurance), providing the best standardized comparison between different loan offers.
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