The APR is intended to enable you to compare terms of loan products from different lenders. To make an accurate comparison, compare loans with the same terms, interest rates and points. The loan with the lower APR is the less expensive loan. Lenders also provide the APR along with a loan's interest rate in the Truth in Lending Disclosure Statement. This document will be mailed within 3 days after you submit an application.
Some lenders charge an origination fee to cover the administrative costs of processing a loan.
If you haven't much available cash beyond the down payment, you might want to look into a no origination fee loan. If you're afraid rates are headed up, protect your buying power by locking in the rate at the time you apply for your loan. Make sure it allows enough time for your loan to be processed. And get it in writing. If you exceed the lock-in period and your rate expires, you may see your loan rate go up.