Loan APR Calculator
Loan Amount =
Calculates the APR (annual percentage rate) of a loan or mortgage.
The APR is calculated by determining a payment amount and then recalculating the interest after removing fees and points from the loan amount. It is assumed that interest compounds and payments occur monthly.
- Loan Amount: amount of the loan
- Interest/Yr%: interest rate expressed as a percentage
- Years: number of years for the loan
- Points%: points associated with the loan
- Fees: loan or origination fees
- APR%: annual percentage rate
A $100,000, 30 year loan is 5.25%. If the bank charges 1 point and a $500 processing fee, what is the APR?
- Loan Amount: 100,000.00
- Interest/Yr%: 5.25
- Years: 30
- Points%: 1
- Fees: 500
The APR is 5.385%.
Annual Percentage Rate