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Mortgage APR Calculator

This Mortgage APR Calculator helps you estimate the true annual percentage rate (APR) on your mortgage, including interest, fees, and discount points, giving a complete picture of your loan cost.

Mortgage Annual Percentage Rate (APR) Estimator

Input Fields
L
$
Enter the total mortgage or loan amount
R
%
Enter the annual interest rate
N
years
Enter the loan term (years)
F
$
Enter the total closing costs
Points
%
Enter the number of points paid (percentage)
If enabled, the result will update automatically when you change any value.

Mortgage APR Approximation Formula

Formula
\[ APR \approx \frac{(R \times L) + F + (L \times \frac{Points}{100})}{L} \times 100 \]

Where:

  • $$APR$$ = Annual Percentage Rate (as a percentage)
  • $$R$$ = Nominal interest rate (as decimal)
  • $$L$$ = Loan amount
  • $$F$$ = Fees and closing costs
  • $$Points$$ = Discount points paid (percentage of loan)


The Mortgage APR Calculator estimates the true cost of borrowing by including not only the interest rate but also fees and discount points. It provides a more accurate comparison between different mortgage offers and helps borrowers make informed decisions.

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