Mortgage APR Calculator | apr calculator
Entertheloanamount,term,feesanddiscountpointsintoNerdWalletscalculatortodeterminetheAPR,orannualpercentagerate,onamortgage.APRisaloan-comparisontoolthatmeasuresallthecostsofamortgage,includingtheinterestpaidoverthelifeoftheloan,originationfeesandpoints.[1]Interestratevs.APRTheinterestrateisthepercentageoftheloanamountthelenderchargesforlendingmoney.TheAPRreflectscostspaiddirectlytothelender,whichincludetheinterestrateandloan-relatedfees,suchasoriginationchargesanddiscountpoints.[2]HowisAPRca...
Enter the loan amount, term, fees and discount points into NerdWallets calculator to determine the APR, or annual percentage rate, on a mortgage. APR is a loan-comparison tool that measures all the costs of a mortgage, including the interest paid over the life of the loan, origination fees and points.[1]
Interest rate vs. APR
The interest rate is the percentage of the loan amount the lender charges for lending money. The APR reflects costs paid directly to the lender, which include the interest rate and loan-related fees, such as origination charges and discount points.[2]
How is APR calculated?
APR is calculated in three steps:
Add the fees to the loan amount.
At the loans interest rate, figure what the monthly payment would be if you include fees in the loan amount rather than pay them upfront.
Con...