What is The Real APR for That Loan?

This calculator estimates your real APR (Annual Percentage Rate) with points.
Loan Information
Loan Information
Home Value : ($)
Interest Rate : (%)
Length : (Yrs)
Down Payment :
Additional Information
Points : (%)
Origination Fees : (%)
Closing Costs : ($)

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Financial Analysis (Switch to Plain English)
Down Payment : $30,000.00
Amount Financed : $270,000.00
Monthly Principal & Interest : $1,751.21
Points Value : $2,700.00
Origination Fees $2,700.00
Total Closing Costs $6,200.00
Actual APR 6.978%
Plain English Help (Switch to Financial Analysis)

Did you know that the advertised APR and the APR you really pay on a loan isn't necessarily the same? It's true! By the time you include other factors such as closing costs, your APR will not be exactly what you thought it was.

If you purchase a home valued at $300,000.00 and take out a 30 year loan with a 6.750% interest rate, you will actually be paying 6.978% if you make a $30,000.00 down payment. This figure is computed after factoring in the closing costs and the points, assuming you purchase one point with the loan you take out.
DISCLAIMER: There is NO WARRANTY, expressed or implied, for the accuracy of this information or its applicability to your financial situation. Please consult your financial and/or tax advisor.