What is a comparison rate, anyway?

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A comparison rate gives you an indication of the true cost of a loan. It’s a way of comparing loans equally by including known fees (upfront, ongoing and exit) on top of the interest rate and is calculated on a $150,000 loan over 25 years. As this is a precise reference point, we recommend that you look at the cost of the mortgage over the entire loan term (which uno provides) because it’s more accurate and tailored to your situation.