This calculator will compute the effective interest rate of a mortgage when upfront loan costs are included. |
| Mortgage loan amount: | |
| Quoted interest rate (%): | |
| Mortgage loan term (# years): | |
| Points (%): | |
| Other closing costs to include: | |
|
| Principal and interest payment: | |
| Total of points and other closing costs: | |
| Effective loan amount: | |
| Monthly payment on effective loan amount: | |
| But loan amount is really only: | |
| Therefore, the APR is really this amount: | |
