What is The Real APR for That Loan?

Even though your mortgage has a specific interest rate, when you factor points in the annual percentage rate (APR) may be higher. Use this calculator to determine your actual APR.

The default entries provided in the calculator show a $250,000 mortgage at 4.75% interest for 30 years with a 10% down payment. Additionally, there is a 1.000% percentage point charge, no origination fees and closing costs of $1,200. The Financial Analysis results show an actual APR of 4.86%; total closing costs of $3,900; no origination fees; $270,000 amount financed; monthly principal and interest of $1408.45; and points value of $2,700.

To use the calculator, enter the following information:

Loan Information: Home Value, Interest Rate, Length (in years) and Down Payment (choose dollars or percentage).>br> Additional information: Points, Originations Fees and Closing Costs.

The calculator will compute the following information:

Down Payment
Amount Financed
Monthly Principal and Interest
Points Value
Origination Fees
Total Closing Costs
Actual APR

The calculator can also produce a PDF output file for download to your computer.

Input Information
Loan Information
Home Value : ($)
Interest Rate : (%)
Length : (Yrs)
Down Payment :
Additional Information
Points : (%)
Origination Fees : (%)
Closing Costs : ($)
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Financial Analysis
Down Payment : $30,000.00
Amount Financed : $270,000.00
Monthly Principal and Interests : $1,408.45
Points Value : $2,700.00
Origination Fees $0.00
Total Closing Costs $3,900.00
Actual APR 4.876%

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