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.
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.
 Interest rate
 Annual interest rate for this 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.
 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.
 Discount points
 Total number of "points" purchased to reduce your mortgage's interest rate. Each "point" costs 1% of your loan amount.
 Other fees
 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.
