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APR Mortgage calculator

Use this calculator to find the APR on your mortgage.

Inputs
$
%
$

Estimates only. Adjust any value to recalculate instantly.

Results
Effective APR 6.679% versus a 6.50% note rate
Note rate 6.50%
APR 6.679%
Points cost $3,000
Total fees $5,500
Upfront cost
Upfront cost Points: $3.0kOther fees: $2.5k
  • Points $3.0k
  • Other fees $2.5k
Loan balance Balance
Loan balance: Balance $297k$222k$148k$74k$0 Yr 1Yr 6Yr 11Yr 16Yr 21Yr 26

The APR of 6.679% spreads your $5,500 of upfront costs across the loan, making it the best single number for comparing offers with different rates and fees. Your actual payment of $1,896.20 is still based on the note rate.

Yearly amortizationView table
YearPrincipalInterestBalance
1$3,353$19,401$296,647
2$3,578$19,177$293,069
3$3,817$18,937$289,252
4$4,073$18,681$285,179
5$4,346$18,409$280,833
6$4,637$18,118$276,196
7$4,947$17,807$271,249
8$5,279$17,476$265,970
9$5,632$17,122$260,338
10$6,009$16,745$254,328
11$6,412$16,343$247,916
12$6,841$15,913$241,075
13$7,299$15,455$233,776
14$7,788$14,966$225,987
15$8,310$14,445$217,677
16$8,866$13,888$208,811
17$9,460$13,294$199,351
18$10,094$12,661$189,257
19$10,770$11,985$178,487
20$11,491$11,263$166,996
21$12,261$10,494$154,735
22$13,082$9,673$141,653
23$13,958$8,797$127,695
24$14,893$7,862$112,803
25$15,890$6,864$96,912
26$16,954$5,800$79,958
27$18,090$4,665$61,868
28$19,301$3,453$42,567
29$20,594$2,161$21,973
30$21,973$781$0

How the apr mortgage calculator works

It calculates the rate at which your net loan proceeds (the loan minus points and fees) equal the present value of your payments. That rate, the APR, captures the true cost of the loan including upfront charges.

Worked example

Worked example: with loan amount of $300,000, note interest rate of 6.50% and loan term (years) of 30, the apr mortgage calculator shows effective apr of 6.679%.

Note rate
6.50%
APR
6.679%
Points cost
$3,000
Total fees
$5,500

The formula

APR is the rate r where (loan − points − fees) = present value of the payments made at the note rate. Points cost = loan × points %.

Results are estimates for educational purposes and are not financial advice. Confirm exact figures with your lender, plan administrator or advisor.

Frequently asked

Questions about the apr mortgage calculator

What is the difference between interest rate and APR?

The interest rate sets your payment; the APR also folds in points and fees, so it is higher when there are upfront costs. APR is the better number for comparing loan offers.

Why is my APR higher than my rate?

Because the APR spreads your closing costs and points across the loan as if they were extra interest. The bigger the upfront fees, the wider the gap.

Should I always pick the lowest APR?

Usually, but APR assumes you keep the loan to term. If you will sell or refinance soon, a loan with a higher APR but lower fees can actually cost less.

Is the APR Mortgage calculator free to use?

Yes. Every calculator on FinCalculators is completely free, with no sign-up, login or paywall. You can run as many scenarios as you like.

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