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APR Calculator
Your interest rate isn't the whole story. See the true APR after fees and points.
$
%
yrs
%
$
$
Effective APR
6.621%
Interest rate
6.500%
Monthly P&I
$2,023
Net proceeds
$316,000
Rate vs APR
+0.121%
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Frequently asked questions
What is APR?
APR (Annual Percentage Rate) reflects the interest rate plus lender fees expressed as a yearly rate, giving a more complete picture of loan cost.
Why is APR higher than the interest rate?
APR includes upfront fees like origination charges and discount points, spread over the life of the loan.
Should I compare loans by rate or APR?
Compare by APR when the loans have similar terms — it's a better apples-to-apples measure of total cost.