When comparing loans, it’s important to look at the total cost of borrowing. This includes all fees, such as loan application fees and prepayment penalties (which are sometimes included in the interest rate). It’s also important to compare fees between lenders. Finding the Best Loan Company: A Step-by-Step Guide This can be done by calculating the annual percentage rate (APR), which includes all fees and charges. This can help you determine which lender offers the best value overall.