Welcome > Resources > Mortgage Calculators > What Is Your APR? ...

What Is Your APR?

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.

The mortgage calculators are provided by KJE Computer Solutions, LLC and made available to NUMBER1EXPERT as self-help tools for your independent use and are not intended to provide investment advice. We can't guarantee their applicability or accuracy in regards to your individual circumstances. All examples are hypothetical and are for illustrative purposes. We encourage you to seek personalized advice from qualified professionals regarding all personal finance issues.

"A model of how the Internet can facilitate the process of deciding where to send your children to school" - America's Best School Profiles by The Heritage Foundation Washington Public, Private and Charter Schools: Compare them using these top-rated, comprehensive reports.   Schools in Whatcom County, Sudden Valley and Bellingham

Closing or Settlement >Closing Costs If you are in the process of buying a home, you have probably figured out how much you will need for the down payment, but don't forget about the closing costs associated with the purchase of any property. These additional costs can add up to a significant amount. Closing costs will vary, depending upon the costs of financing your home loan and the time of the month that you close. Your real estate agent will be able to give you an estimate of all these costs, including the points on your loan, private mortgage insurance (if required), the title search, title insurance, attorneys' fees, and any transfer taxes or recording fees changed by local government agencies. There may also be property taxes, homeowners' association fees and insurance that must be prepaid. See All Tips In The "Closing or Settlement" Category > See Complete Library Of Hundreds Of Tips In 30+ Categories >

Q  What are the world's most valuable chairs? A  A pair of Chippendale chairs designed by Robert Adam sold in 1997 at Christie's, London to an anonymous buyer for $2,762,330. See More Real Estate Trivia >

Chris Weitzel & Associates RE/MAX Whatcom County 1937 Lake Whatcom Blvd Bellingham, WA 98229 Direct: (360) 312-5151 Toll Free: (888) 733-7518 Email: chrisweitzelandassoc@NUMBER1EXPERT.com Chris Weitzel & Associates is the #1 Real Estate "Team" in Whatcom County and we have over a combined 65 years of experience. With a top listing agent, two buyer's agents, a marketing specialist and a transaction coordinator - we have all the professionals and tools to handle any real estate transaction. We hope that you will choose Weitzel & Associates to represent you during your next real estate move in Whatcom County. www.ChrisWeitzel.com is brought to you by Chris Weitzel & Associates NUMBER1EXPERT™ for Bellingham Homes and Real Estate WA, Whatcom County Homes and Sudden Valley Homes in Washington State. - Lake Whatcom, Waterfront Homes, Lakefront Homes, Condo, Condos, Golf Community Homes Read Chris Weitzel & Associates' Privacy Guarantee, Terms of Service, and Free & Without Obligation Pledge

NUMBER1EXPERT®
© Best Image Marketing and/or its clients.
All rights reserved. All information deemed reliable but not guaranteed.