Understanding the real cost of your home loan: Beyond the interest rate percentage

Understanding the true cost of a home loan involves more than just the interest rate; factors like tenure, fees, and repayment management significantly impact total expenses. APR (Annual Percentage Rate) provides a more accurate picture of total loan costs by including interest rates and additional mandatory expenses. Maintaining a strong credit score, opting for shorter tenure, and comparing offers across lenders can help secure the best home loan interest rate.