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Mortgage APR Calculator
Mortgage APR CalculatorUse 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.
- 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.
- Interest rate
- Annual interest rate for this mortgage.
- 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.
- Points paid
- Total number of "points" purchased to reduce your mortgage's interest rate. Each "point" costs 1% of your loan amount.
- Other fees to include
- 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.
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CU Mortgage Division - Located at O Bee Credit Union
8665 Martin Way E, Lacey, WA 98516
E-Mail: wm(at)cumortgagedivision.com
Ph: (360) 539-4687
Fax: (253) 320-7539
Mailing Address: PO Box 489, Tenino, WA 98589-0489
CU Mortgage Division proudly serves all Residents of Washington State. CU Mortgage Division is a branch of Network Funding L.P. (NMLS# # 2297 ) a Direct Mortgage Lender. This branch of Network Funding is licensed by the Washington State Department of Financial Institutions, Consumer Loan License #520-CL-26248-425529 / NMLS # 65808
Copyright © 2010 CU Mortgage Division a Branch of Network Funding L.P.
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