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 Texas Public, Private and Charter Schools: Compare them using these top-rated, comprehensive reports.   Schools in Georgetown, Round Rock and Austin

Financing Your Home >When Interest Rates Rise Many people fall out of the home buying market when interest rates start to go up. This is often a mistake. Many of the best mortgages deals become available when lenders are competing for new business and sellers are competing within a smaller buyer pool. You just have to know how to keep the costs down in order to counter the higher interest rates. One of the best tricks is the buy-down. In a buy-down, a fee is paid at the closing to get a lower interest rate. In a soft market, an anxious seller may be lured into to paying all or part of the buy-down. Another approach is to get the seller to pay some of closing costs, thus lowering the amount of cash a buyer needs to close. Frequently the seller's costs can be used as a write-off by the buyer. Always consult with your tax advisor if you are considering such an arrangement. If the market is softening due to rising or higher rates, the price itself becomes an area where a buyer may be able to save a lot of money on a house through skillful negotiating. Lower prices mean lower loan amounts, so don't be discouraged by higher rates--use them to your advantage. See All Tips In The "Financing Your Home" Category > See Complete Library Of Hundreds Of Tips In 30+ Categories >

Q  Where are church services held in the water each Sunday during July and August? A  At Half-Moon Bay, Ontario, worshippers gather in boats facing the natural stone pulpit, and hymnals are passed to the floating congregation by ushers in canoes. See More Real Estate Trivia >

Lena Lansdale's Team Moreland Properties 823 South Austin Ave. Georgetown, TX. 78626 Phone: 512-818-0229 Fax: 512-863-2116 Email: lenalansdale@NUMBER1EXPERT.com Lena Lansdale has been a resident of Georgetown, Texas for 33 years and knows the Georgetown, Round Rock, and Austin, Texas Real Estate Market well. She has also been a Top Producer for 9 consecutive years and is truly a NUMBER1EXPERT. Lena's success in real estate is because she loves people and is enthusiastic and full of energy. Lena has put the fun back into buying and selling real estate. People enjoy being around Lena and she makes everyone feel comfortable and a part of the community. Lena and her husband, Larry Black have put together a proven professional real estate team, providing exceptional service

LARRY BLACK Phone: 512-818-0316 Fax: 512-863-2116 Email: LarryBlack@Moreland.com www.LenaLansdale.com is brought to you by Lena Lansdale's Team NUMBER1EXPERT™ in real estate for Georgetown, Round Rock and Austin, Texas Read Lena Lansdale's Team'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.