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 Illinois Public, Private and Charter Schools: Compare them using these top-rated, comprehensive reports.   Schools in East Dundee and West Dundee

Remodeling and Renovations >Considering Major Improvements You have decided that it is time to sell your home. After taking an objective look around, you realize that you have a lot of work to do in order to prepare your home for the market. If it will take more than just cleaning to get your home for showing, it may be time to call in two professionals--a home improvement contractor and a professional real estate agent. The ideal listing has a modern kitchen and bath, fresh paint, beautiful lighting fixtures and elegant hardwood floors or high-end wall-to-wall carpet. Your real estate agent can offer suggestions about what your house needs, what colors or cabinet styles are popular with buyers, and tips on cost-effective improvements. The contractor can work with you to put your plan into action. If you feel that the costs or disruption of a major remodeling project would be overwhelming, you have the option of marketing your home as a "fixer-upper." If you decide to sell your home "as is", your agent can prepare a market analysis to give you an idea of what you can expect to net from the sale of your home. See All Tips In The "Remodeling and Renovations" Category > See Complete Library Of Hundreds Of Tips In 30+ Categories >

Q  What does the term ARM stand for? A  An ARM is an Adjustable Rate Mortgage, a loan where the interest rate is tied to an economic index that fluctuates with the market. See More Real Estate Trivia >

Paul Grasemann RE/MAX Gateway 50 Industrial Drive Gilberts, IL 60136 Phone: 847-414-4040 Fax: 847-574-7592 paul@majorPaul.com Thanks for takin' time to discuss your needs. I am a full-service residential Broker Associate. For a decade I have met clients with a no-nonsense approach to buying and selling homes. From our first introduction through to the closing table, I will treat you with respect and courtesy. You will benefit from my professionalism and market experience. If you are considering relocating into or out of McHenry or Kane counties or the collar communities, take time to drop me a line. The RE/MAX Gateway staff and I will share information with you right away, so you can begin getting acquainted with the local market. Contact me with confidence at 847-414-4040! www.WestDundeeRE.com is brought to you by Paul Grasemann NUMBER1EXPERT™ in real estate for East Dundee and West Dundee, Illinois Read Paul Grasemann's 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.