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APR

Calculate your Annual Percentage Rate (APR), which reflects the true cost of your mortgage including interest and closing costs.

$500,000.00
6.5%
$7,500.00

Strategic Insights

The Annual Percentage Rate (APR) is designed to help you compare the total cost of different loan offers. It factors in one-time fees and points that you pay upfront.

While your monthly payment is dictated by your Base Interest Rate, a significantly higher APR usually indicates high closing costs or points tied to that specific loan program.

Effective Loan APR

6.646%

Annual Percentage Rate

Interest Rate
6.5%
Closing Costs
$7,500.00
Net Proceeds
$492,500.00

*Your monthly payment of $3,160.34 is still based on the 6.5% rate, but the APR reflects the total cost of credit.

Disclosure

This calculator is provided for illustrative purposes only and the results are based on the information you provide. Estimated monthly payments are only an estimate and do not include additional factors such as mortgage insurance, property taxes, or fees. Financial decisions should not be based solely upon the results of this calculator.