Why don't APRs show for all lenders when using the compare rates feature...isn't it required by law?

Hi there,

Thanks for your question. When a lender or broker publishes their rates they are indeed required to display APR. All lenders and brokers who provide rates to SmartHippo provide the APR and we display it on the site.

There are also lenders who do not feed us rates directly and for whom we do not have sufficient data available (regarding closing costs, for example) to properly calculate APR. We are working on ways to address this.

Thanks again for the question, and we hope you find SmartHippo useful in your search for a mortgage.

If a lender is displaying an interest rate, they must by law display the APR. The APR is shopping tool for consumers. It will help you determine who is charging more fees to complete the transaction. Don't be fooled by the APR though because some companies will use a loan balance of $150,000 while others will use a loan balance of $300,000 as their example. The higher the balance, the lower the APR so it can be confusing when comparing them from lender to lender.