APR Calculator

The real APR (Annual Percentage Rate) of your mortgage depends a lot on the life expectancy of the loan itself. If you are not planning to let the mortgage run to its official term, it is highly recommended to recalculate the APRs of all the offers you are considering using the most likely real period of time.

Unlike the Interest Rate, the APR does not get locked, leaving the borrower quite vulnerable to the lender’s whim to change closing costs and origination fees at the very last moment. If it happened to you, you can at least see what APR it turns into.

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 (Switch to Plain English)
Down Payment : $30,000.00
Amount Financed : $270,000.00
Monthly Principal & Interests : $1,449.42
Points Value : $2,700.00
Origination Fees $0.00
Total Closing Costs $3,900.00
Actual APR 5.128%
Plain English Help (Switch to Financial Analysis)

I don't want to upset you, but the advertised APR and the APR you really pay on your loan aren't necessarily the same amount. By the time you add up all the other components involved, such as the closing costs etc., your APR will not be exactly what you thought it would be.

If you purchase a home valued at $300,000.00 and take out a 30 year loan with a 5.000% interest rate, you will actually be paying 5.128% if you make a $30,000.00 down payment. This figure includes the closing costs and the points, assuming you've purchased one point with the loan.