What is the difference between interest rate and APR?

The interest rate is the basic cost of borrowing money, while the APR includes the interest rate plus certain fees, giving you the true annual cost of your loan.

Why does the APR matter when comparing mortgages?

APR helps you compare loans on an equal footing by factoring in both the interest rate and required fees, so you can find the best overall deal.

What fees are included in the APR calculation?

Common fees include loan origination charges, discount points, and some closing costs, but not all fees are included. Always ask your lender which fees are used.

Can I use this calculator for adjustable-rate mortgages?

This calculator is designed for fixed-rate mortgages. If your loan has an adjustable rate, the results may not reflect future changes in your interest rate.

How do I download my full payment schedule?

After calculating, use the “Export PDF” or “Export Excel” options to download your complete amortization schedule for all 30 years.

Is my information saved when I use the calculator?

No, your entries and results are not stored. You can copy or download your results, but the calculator does not save or share your personal data.

Mortgage APR Calculator

Calculate your true mortgage APR and compare costs.

Calculator Inputs

Loan and fees

Loan amount ($)

Stated (note) rate (%)

Interest rate before APR

Term (years, 1–50)

Closing costs ($)

Results

True cost (APR)

APR (%)

6.7%

Monthly payment

$1,896

Total interest

$382,633

Balance Over Time

Loan balance by year (30 years)

Principal vs Interest by Year

Principal and interest paid each year (30 years)

Yearly Breakdown

First 15 years. Download full schedule for all 30 years.

Year	Principal	Interest	Balance
1	$3,353	$19,401	$296,647
2	$3,578	$19,177	$293,069
3	$3,817	$18,937	$289,252
4	$4,073	$18,681	$285,179
5	$4,346	$18,409	$280,833
6	$4,637	$18,118	$276,196
7	$4,947	$17,807	$271,249
8	$5,279	$17,476	$265,970
9	$5,632	$17,122	$260,338
10	$6,009	$16,745	$254,328
11	$6,412	$16,343	$247,916
12	$6,841	$15,913	$241,075
13	$7,299	$15,455	$233,776
14	$7,788	$14,966	$225,987
15	$8,310	$14,445	$217,677

Disclaimer: This tool is for educational and estimation purposes only. In the US, APR is disclosed under Regulation Z (Truth in Lending); lenders provide it on the Loan Estimate. This estimate uses loan amount minus closing costs as amount financed. Actual APR may vary by lender and which costs are included. This is not legal or financial advice.

How It Works

Step 1: Enter Your Loan Details

Loan and fees ($): Type the total amount you plan to borrow.
Interest rate before APR: Enter the basic interest rate the lender offers, before including fees.
Loan term (years): Input how many years you expect to repay the loan (for example, 30 years).
Fees ($): Add up any upfront costs or lender fees, and enter the total here.

Step 2: Calculate Your Results

Click “Calculate” to see your results, including:

True cost (APR): The real annual percentage rate for your loan, combining interest and fees.
Monthly payment: How much you’ll owe each month.
Total interest: The total amount you’ll pay in interest over the life of your loan.

Step 3: Explore Visual Breakdowns

Balance Over Time: See a chart of your remaining loan balance by year.
Principal vs Interest by Year: Visualize how much of your payment goes toward principal versus interest each year.
Yearly Breakdown: Review a table showing, for each of the first 15 years, how much principal and interest you pay and your remaining balance. Download the full schedule for all 30 years.

Step 4: Save or Share Your Results

Copy: Quickly copy your results for easy sharing.
Export PDF/Excel: Download your results and payment schedule for your records or to share with a lender or advisor.

This calculator is designed to be straightforward, so you can clearly see and compare the real costs of different mortgage options.

Understanding Mortgage APR

When you shop for a home loan, it’s important to look beyond the advertised interest rate. The annual percentage rate (APR) gives you the true yearly cost of borrowing, including both the interest rate and certain fees.

This is the most reliable number for comparing mortgage offers because it reflects the real cost you’ll pay each year for your loan.

Many homebuyers focus only on the interest rate, but fees like loan origination charges and points can make a big difference. The APR helps you see the full picture, making it easier to compare different loans even if their interest rates look similar.

Understanding your mortgage APR helps you make more informed decisions and avoid surprise costs down the road.

How This Calculator Helps

This Mortgage APR Calculator is designed to make it easy for you to see the full cost of your home loan. Simply enter your:

Loan amount (the amount you want to borrow)
Interest rate before APR (the lender’s quoted rate, not including fees)
Loan term (number of years you would like to pay off your mortgage)
Total loan fees (such as origination fees or points)

Once you enter this information, the calculator instantly shows you:

The true mortgage APR including all fees
Your estimated monthly payment
Total interest paid over the life of the loan

You’ll also get interactive charts and an annual breakdown to help you understand exactly how your payments are applied and how your loan balance changes over time.