Welcome > Resources > Mortgage Calculators > What Is Your APR? ...

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.

"A model of how the Internet can facilitate the process of deciding where to send your children to school" - America's Best School Profiles by The Heritage Foundation New Jersey Public, Private and Charter Schools: Compare them using these top-rated, comprehensive reports.   Schools in Montclair, Upper Montclair and Glen Ridge

Accepting An Offer >Low Offers In every real estate market, there are buyers who make offers that are far below the current market value of the property. How should you react if your agent brings you one of these "low ball" offers? Here are some scenarios for the seller. If your home is priced very close to its fair market value, you can simply reject the offer and be reasonably confident that a better one will appear. However, if you have priced your home higher than other comparable homes in the neighborhood, the offer may not be unreasonable. Ask your real estate agent for advice about the buyer's overall strategy. Do they really want your house or will they move on to another property if you make a counter offer? Can they afford to pay a higher price? Are there ways to close the gap with a small owner take-back, or with terms that will increase your bottom line? Take a hard look at your asking price and explore all your options before saying "no", especially if you are selling in a buyer's market. See All Tips In The "Accepting An Offer" Category > See Complete Library Of Hundreds Of Tips In 30+ Categories >

Q  What island in the St. Lawrence River was given away on a television game show in 1964? A  Price is Right Island was given away by Bill Cullen on "The Price is Right." See More Real Estate Trivia >

James Van Note Rhodes, Van Note & Company Realtors 635 Valley Road Upper Montclair, NJ. 07043 Phone: 973-818-7491 Fax: 973-744-7997 Email: jamesvannote@NUMBER1EXPERT.com I have been actively involved in real estate for fifteen years as a sale associate, investor and developer and have been an agent for Rhodes Van Note for eleven years. I grew up in the Montclair community and participates in the local rugby and soccer teams. Growing up here gives me a first hand knowledge of the area and helps me match my clients' lifestyle with Montclair and our surrounding communities. My experience in real estate development and the construction field gives me the understanding of the fundamentals of a house and I am able to help both buyers and sellers assess their needs. www.LiveYourDreamsNJ.com is brought to you by James Van Note NUMBER1EXPERT™ in real estate for Montclair, Upper Montclair and Glen Ridge, New Jersey Read James Van Note's Privacy Guarantee, Terms of Service, and Free & Without Obligation Pledge

NUMBER1EXPERT®
© Best Image Marketing and/or its clients.
All rights reserved. All information deemed reliable but not guaranteed.