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This APR calculator helps you figure out the annual percentage rate (APR) on a mortgage (or other type of loan). You'll need to provide the loan's interest rate, term (how long the loan lasts), and closing costs, and you'll see the resulting APR for your loan.

If you're not quite sure what the APR calculator is telling you, take a few minutes to learn what APR is, and how it can guide you astray.

Instructions: after filling in information related to your loan, click the Calculate button. Be sure to combine all relevant costs into a single number and enter that number in the Total Closing Costs field. Your APR will appear below the APR calculator after the page reloads.

APR Calculator


Loan Amount:
Interest Rate:
Term (months):
Total Closing Costs:

Next Steps

Now you've calculated your APR, try running several "what-if" scenarios to see how APR changes as you change the inputs.

For starters, it's worth examining what happens if you pay off your loan early (by selling or refinancing, for example); you can do this by shortening the term to a number that's realistic. APR tends to underestimate the impact of up-front costs when you pay off a long term loan quickly; it assumes that you'll amortize those closing costs over a 30 year mortgage, for example, when really you're more likely to refinance before then.

You might also want to find out which parts of the loan have the greatest impact on your overall cost. If you have several lenders to choose from and you can negotiate, it's nice to know what to negotiate on: should you try to lower your closing costs, or is it better to go for a lower interest rate? Fiddle around with the numbers and you'll find out.

Note that the APR calculator is best for fixed rate mortgages. Calculating the APR on an adjustable rate mortgage can be done here.

If you found the APR calculator useful, please try some of our other banking calculators.

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