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What is The Real APR for That Loan?

Input Information

Loan Information
Home Value :	($)
Interest Rate :	(%)
Length :	(Yrs)
Down Payment :	($) (%)
Additional Information
Points :	(%)
Origination Fees :	(%)
Closing Costs :	($)
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Financial Analysis (Switch to Plain English)

Down Payment :	$30,000.00
Amount Financed :	$270,000.00
Monthly Principal & Interests :	$1,449.42
Points Value :	$2,700.00
Origination Fees	$0.00
Total Closing Costs	$3,900.00
Actual APR	5.128%

Plain English Help (Switch to Financial Analysis)

Did you know that the advertised APR and the APR you really pay on a loan isn�t necessarily the same? It�s true! By the time you include other factors such as closing costs, your APR will not be exactly what you thought it was. If you purchase a home valued at $300,000.00 and take out a 30 year loan with a 5.000% interest rate, you will actually be paying 5.128% if you make a $30,000.00 down payment. This figure is computed after factoring in the closing costs and the points, assuming you purchase one point with the loan you take out.

DISCLAIMER: There is NO WARRANTY, expressed or implied, for the accuracy of this information or it's applicability to your financial situation. Please consult your own financial advisor.

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