APR & Mortgage APR Calculator | True Loan Cost Analysis

APR & Mortgage APR Calculator

Discover the true cost of loans including fees and points. Calculate both general APR and mortgage-specific APR to make informed financial decisions.

APR Calculator

Mortgage APR Calculator

📝 Loan Details

Loan Amount ($)

Interest Rate (%)

Loan Term (Months)

💸 Fees & Charges

Origination Fee ($)

Processing Fee ($)

Other Fees ($)

Loan Cost Analysis

Annual Percentage Rate (APR)8.37%
+0.87% higher than interest rate
The true cost of your loan including all fees

Nominal Interest Rate

7.50%

The base rate before adding fees

Total Loan Costs

Origination Fee

$500.00

Processing Fee

$300.00

Other Fees

$200.00

Total Fees

$1,000.00

Cost Distribution

Principal 72%

Interest 23%

Fees 5%

🏠 Mortgage Details

Home Price ($)

Down Payment (%)

Interest Rate (%)

Loan Term (Years)

📊 Mortgage Costs

Points (% of loan)

Origination Fee ($)

Appraisal Fee ($)

Credit Report Fee ($)

Title Insurance ($)

Mortgage Cost Analysis

Mortgage APR6.58%
+0.33% higher than interest rate
True cost of your mortgage including fees

Monthly Payment

$1,724

Principal and interest only

Total Closing Costs

Points

$2,800

Origination Fee

$1,500

Appraisal Fee

$450

Credit Report

$50

Title Insurance

$1,200

Total Fees

$6,000

30-Year Cost Breakdown

Principal 58%

Interest 39%

Fees 3%

Understanding APR: Why It Matters

The Annual Percentage Rate (APR) represents the true cost of borrowing, including both the interest rate and all additional fees charged by the lender. Unlike the nominal interest rate, APR accounts for origination fees, points, and other loan costs to give you a complete picture of what you’ll pay annually for the loan.

Key facts about APR:

APR is required by law to be disclosed in all loan agreements
Mortgage APR includes points, origination fees, and other closing costs
Credit card APR may include annual fees and transaction fees
The higher the fees, the greater the difference between interest rate and APR

When comparing loan offers, always look at the APR rather than just the interest rate. A loan with a lower interest rate but high fees may actually be more expensive than a loan with a slightly higher rate but lower fees. Our calculator helps you make informed decisions by revealing the real cost of borrowing.