APR Calculator

This calculator reveals the real cost of a loan by computing the APR — a single number that includes both interest and fees. Choose the tab that fits your situation:

• General Loan — works for personal loans, auto loans, student loans, or any fixed-rate installment loan. Enter the amount, term, rate, and any fees (upfront or rolled into the loan).
• Mortgage — tailored for home loans. Enter the house value, down payment, rate, loan fees, discount points, and PMI. The calculator computes the true APR including all those costs.

The result updates instantly. Compare the Real APR to the stated interest rate — the difference tells you how much fees are adding to your true borrowing cost.

Two lenders can quote you the same interest rate and still charge very different amounts. One might have $500 in fees, another $5,000. The interest rate won't tell you that — but the APR will.

In the U.S., the Truth in Lending Act (TILA) requires lenders to disclose the APR on every loan offer. This forces transparency and gives you a standardized number to compare across lenders, loan types, and fee structures.

The key insight: a loan with a lower interest rate isn't always cheaper. If it has higher fees, the APR — and your total cost — could be higher. Always compare APR to APR, not just rate to rate.

• Fixed APR — the rate stays the same for the life of the loan. Predictable payments, no surprises. Best when rates are low and you want to lock in.
• Variable APR — the rate fluctuates with a market index (often the federal funds rate). Usually starts lower than a fixed rate, but can increase over time. Best when rates are high and expected to drop, or for shorter-term loans where rate swings have less impact.

This calculator computes APR for fixed-rate loans. For variable-rate loans, the APR can only estimate the cost based on the initial rate — future adjustments are unknown.