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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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.

All Information Contained Within This Website Is Believed To Be Accurate But Is Not Guaranteed By Marti McClure-Gibbins or The Real Estate Professionals, LLC ®. External Links Are For Your Convenience Only And Are Not Necessarily A Recommendation or Reference. All Information Provided By The External Links Is Believed To Be Accurate But Is Not Guaranteed By Marti McClure-Gibbins or The Real Estate Professionals, LLC ®. As With Everything, Information Should Be Independently Verified.

It is illegal, pursuant to the Ohio Fair Housing Law, Division (H) of Section 4112.02 of the Revised Code and the Federal Fair Housing law, 42 U.S.C.A. 3601, to refuse to sell, transfer, assign, rent, lease, sublease or finance housing accommodations, refuse to negotiate for the sale or rental of housing accommodations, or otherwise deny or make unavailable housing accommodations because of race, color, religion, sex, familial status as defined in section 4112.01 of the Revised Code, ancestry, military status as defined in that section, disability as defined in that section, or national origin or to so discriminate in advertising the sale or rental of housing, in the financing of housing, or in the provision of real estate brokerage services.

It is also illegal, for profit, to induce or attempt to induce a person to sell or rent a dwelling by representations regarding the entry into the neighborhood of a person or persons belonging to one of the protected classes.