Mortgage APR Calculator

Use this calculator to determine the Annual Percentage Rate (APR) for your mortgage. Press the report button for a full amortization schedule, either by year or by month.

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For more information these financial calculators please visit: Financial Calculators from KJE Computer Solutions, LLC

Definitions

Annual Percentage Rate (APR): A standard calculation used by lenders. It is designed to help borrowers compare different loan options. For example, a loan with a lower stated interest rate may be a bad value if its fees are too high. Likewise, a loan with a higher stated rate with very low fees could be an exceptional value. APR calculations incorporate these fees into a single rate. You can then compare loans with different fees, rates or different terms.
Mortgage amount: Original or expected balance for your mortgage.
Term in years: The number of years over which you will repay this loan. The most common mortgage terms are 15 years and 30 years.
Interest rate: Annual interest rate for this mortgage.
Monthly payment: Monthly principal and interest payment (PI).
Total payments: Total of all monthly payments over the full term of the mortgage. This total payment amount assumes that there are no prepayments of principal.
Total interest: Total of all interest paid over the full term of the mortgage. This total interest amount assumes that there are no prepayments of principal.
Loan origination percent: The percent of your loan charged as a loan origination fee. For example, a 1% fee on a $120,000 loan would cost $1,200.
Points paid: Total number of "points" purchased to reduce your mortgage's interest rate. Each "point" costs 1% of your loan amount.
Other fees to include: Any other fees that should be included in the APR calculation. These fees can vary by lender, but at a minimum usually includes prepaid interest.

REAL ESTATE INTERNET WARNING:

Despite advertising claims to the contrary, the internet is not an experienced Real Estate Professional. It cannot consult, counsel, advise, have knowledge of local laws and market conditions, make judgments, "own" the result, or most importantly, understand your individual goals and needs and care about you as a Client. To obtain an accurate interpretation of any information you're receiving online, please contact us. And know that when you do contact us, we never share your info with anyone. Ever.

Disclaimer compliments of Mollie Wasserman / KW Realty in Boston