APR Calculator

Calculate the true annual percentage rate (APR) of your loan including all fees and costs. Get detailed amortization schedule and visual charts.

Quick Start Presets

Loan Details

Loan Amount ($) * The total amount you want to borrow

Nominal Interest Rate (% per year) * Annual interest rate before fees

Loan Term - Years * Number of years to repay

Loan Term - Additional Months Additional months (0-11)

Payments Per Year How often you make payments

Upfront Fees ($) Origination fees, points, closing costs, etc.

Compounding Frequency How often interest compounds

Loan Start Date When the loan begins

Extra Payment Per Period ($) Additional amount paid each period

Balloon Payment ($) Large final payment at end of loan

Results

Enter loan details and click "Calculate APR" to see results.

Annual Percentage Rate (APR) —

Effective Annual Rate —

Payment Per Period —

Total Interest Paid —

Total Payment —

Number of Payments —

What is APR? APR represents the true yearly cost of your loan including all fees. Learn more

How to Use This APR Calculator

Step 1: Enter Basic Loan Information

Start by entering the loan amount, interest rate, and loan term. These are the fundamental details you'll find in any loan offer.

Step 2: Add Fees and Costs

Include all upfront fees such as origination fees, points, closing costs, and application fees. This is crucial for calculating the true APR, as fees significantly impact the actual cost of borrowing.

Step 3: Review Advanced Options (Optional)

Click "Advanced Options" to include extra payments or balloon payments. Extra payments can help you pay off the loan faster and save on interest.

Step 4: Calculate and Analyze

Click "Calculate APR" to see your results. The calculator will show your APR, monthly payment, total interest, and a complete amortization schedule.

Step 5: Download or Print

Export the amortization schedule as a CSV file for your records, or print the results for offline reference.

Common Questions

Why is APR higher than my interest rate?

APR is higher because it includes all fees and costs in addition to the interest rate. Lenders charge origination fees, points, and other costs that increase the effective cost of borrowing. APR gives you the complete picture of what you'll actually pay.

Should I compare loans based on APR or interest rate?

Always compare loans using APR, not just the interest rate. A loan with a lower interest rate might have higher fees, resulting in a higher APR and greater total cost. APR is the best metric for comparing loan offers apples-to-apples.

What fees should I include in the APR calculation?

Include all mandatory fees required to get the loan: origination fees, points, loan processing fees, underwriting fees, and prepaid interest. Don't include optional costs like property insurance, title insurance, or inspection fees that you'd pay regardless of which lender you choose.

How accurate is this calculator?

Our calculator uses the Newton-Raphson numerical method, the same algorithm used by professional financial software and required by the Truth in Lending Act (TILA). Results are accurate to 0.001%, which exceeds industry standards.

Want to Learn More About APR?

Understand how APR is calculated, why it matters, and how to use it to make better financial decisions.

How APR Works