Financial Tools
APR Calculator
The note rate is what the contract says. The APR is what the loan costs once the fees come out of the money you actually receive. This shows both and the gap.
Loan Amount
Note Rate (percent, the rate on the contract)
Term
Fees in Dollars (origination, processing, points, anything taken up front)
Fees as a Percentage (% of the loan, added to the dollar figure)
Values shown are examples, not an offer. Fees vary by lender and by file, use the numbers on your own Loan Estimate.
The Real Rate
| True APR | n/a |
| Note Rate | n/a |
| What the Fees Add | n/a |
| Monthly Payment | $0 |
| Fees | $0 |
| Money You Actually Receive | $0 |
| Total Interest | $0 |
| Total Cost, Interest Plus Fees | $0 |
For illustration only, not financial advice. Results are estimates based on the numbers you enter and do not constitute an offer, rate quote or approval.
Now put that APR next to real offers.
Every lender in the marketplace publishes its APR, term and origination fee.
Questions people ask
What is the difference between the note rate and the true APR?
The note rate sets the monthly payment on the full loan amount. The APR on this page is the rate that same payment represents against the money you receive after fees, so upfront fees push it above the note rate.
Which fees should I enter?
Any fee taken out of the loan up front, such as origination, processing or points, in dollars, as a percentage of the loan, or both. The page adds the two together.
Why does the gap between APR and note rate grow on short loans?
The fees come out once, but on a short term they are spread over fewer payments, so they weigh more on each year of cost. Try the same fees on 12 months and on 30 years to see it.
What does Total Cost, Interest Plus Fees show?
It adds every dollar of interest over the term to the fees you entered. Use it with the APR to compare offers, since a lower note rate with higher fees can cost more.
