APR Calculator

Calculate the true APR of any loan including fees and closing costs. Compare loan offers accurately and see the real cost of borrowing with total interest analysis.

Loan Amount

Interest Rate

Term (Years)

Origination Fee

Closing Costs

Discount Points

pts

Rate Comparison

Stated Rate

6.500%

True APR

6.745%

The APR is 0.245% higher than the stated rate due to fees

Payment Details

Monthly Payment$1,896.20

Total Interest$382,633.47

Total Fees$7,500.00

Total Cost (Interest + Fees)$390,133.47

Fee Spread / Month$20.83

Effective Monthly Cost$1,917.04

Fee Impact Over Loan Term

Origination Fee$3,000.00

Closing Costs$4,500.00

Annual Summary

Year	Principal	Interest	Balance
1	$3.4K	$19.4K	$296.6K
2	$3.6K	$19.2K	$293.1K
3	$3.8K	$18.9K	$289.3K
4	$4.1K	$18.7K	$285.2K
5	$4.3K	$18.4K	$280.8K
6	$4.6K	$18.1K	$276.2K
7	$4.9K	$17.8K	$271.2K
8	$5.3K	$17.5K	$266.0K
9	$5.6K	$17.1K	$260.3K
10	$6.0K	$16.7K	$254.3K

APR calculations are estimates. Actual APR may vary based on credit score, lender terms, and other factors. Consult a financial advisor for personalized guidance.

How to Use APR Calculator

1Enter the loan amount and interest rate.
2Add fees, points, and closing costs.
3View the true APR vs stated rate.
4Compare multiple loan offers.

Frequently Asked Questions

What is the difference between interest rate and APR?▾

The interest rate is the cost of borrowing the principal. APR includes the interest rate plus all fees and costs, giving you the true annual cost of the loan.

Why is APR higher than the interest rate?▾

APR includes origination fees, closing costs, discount points, and other charges spread over the loan term. This makes APR a more accurate measure of the total borrowing cost.

Should I choose the loan with the lowest APR?▾

Generally yes, but consider your plans. If you may refinance or sell soon, a lower rate with higher fees might cost more than a higher rate with lower fees.

About APR Calculator

Calculate the true APR of any loan including fees and closing costs. Compare loan offers accurately and see the real cost of borrowing with total interest analysis.

NexTool's APR Calculator is completely free to use with no sign-up required. Your data is processed directly in your browser and never sent to our servers, ensuring complete privacy and instant results.