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What Is Your APR? ...
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Please try my Java loan and mortgage calculators. They take a minute to load, but they are worth it! Each calculator has dynamic graphs and charts that change - right before your eyes - as you enter different information. Each financial calculator also includes a View Report option. The mortgage repayment schedule and other reports are fully customizable. These reports are designed for you to print out and keep...
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.
Kelly Cobb Fonville Morisey, A Long & Foster Company 523 Keisler Drive, Suite 103 Cary, NC. 27518 Office: 919-859-8889 Toll Free: 800-567-2279 Voice Mail: 919-256-2720 Fax: 919-859-3339 Email: kelly@relo-expert.com
Kelly began her real estate career in 1984. A native of Smithfield, North Carolina and a graduate of both Meredith College and Appalachian State University, she is a former teacher and volunteer coordinator. Kelly was featured in the September 2001 issue of REALTOR® Magazine's "Top 100 Residential Salespeople" nationwide. Kelly is the #1 agent with Fonville Morisey (a Long & Foster Company), a prominent local 850 agent firm, and has been #1 agent every year for eight consecutive years! Kelly lists, sells and negotiates for her clients. Her vast experience also enables her to find just the right property for you, and buyers for the home you need to sell.
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