APR Calculator

This calculator will help you to compare the actual costs of different loans in terms of the loan's APR.  The APR is the a standardized method of calculating the cost of a mortgage, stated as a yearly rate which includes such items as interest, mortgage insurance, and certain points or credit costs.

Note: When entering numbers into the data fields only use numbers and applicable decimal points. Entering commas, dollar signs, or any other non-numeric characters will cause an error.

Loan Balance:

Interest Rate:

Period:

Origination Points:

 Discount Points:

Closing Costs:

Mortgage Ins:

APR:

Definitions:

 

Loan Balance - The loan amount you wish to finance.

 

Interest Rate - Please see the current interest rates for the latest rates.  Compare - you'll see they are the lowest.  Click here to see why we know.

 

Period - This is the length of the loan, which you can specify in years or months.

 

Origination Points - Typically 1% origination, though this varies by region of the country.

 

Discount Points - The discount points specified in the mortgage program to buy the rate down.  

 

Closing Costs - The costs associated with the loan.  Typically includes loan underwriting fee, application or appraisal fee, loan processing, and document preparation.

 

Mortgage Ins - The total cost of mortgage insurance, or the sum of all your monthly PMI payments.  Keep in mind that you can drop request to drop PMI once your equity is greater than 20%.  

 

APR - The annual percentage rate (APR) which takes into account for the interest rate, points and mortgage insurance.
   
This information is for your personal use. Although the script has been tested, the information provided is not guaranteed. Please verify any information with your loan officer. Since the JavaScript is run on your computer, the information is not received or viewed by us. In theory, this information should only be view by you, since it is not submitted to the network.