What is mortgage APR?

Mortgage APR represents the total yearly cost of a loan, including interest rate and certain fees, expressed as a percentage. (EN/ES)

How is interest calculated on a mortgage?

Mortgage interest is typically calculated based on the loan balance, interest rate, and loan term, with APR reflecting additional costs beyond interest alone. (EN/ES)

Why is APR higher than the interest rate?

APR includes certain loan fees and costs in addition to the interest rate, making it higher than the advertised rate. (EN/ES)

Is APR the best way to compare mortgage offers?

APR is a useful comparison tool, but consumers should also consider loan terms, fees, and how long they plan to keep the mortgage. (EN/ES)

Understand the True Cost of Your Mortgage

Our Mortgage APR Calculator factors in lender fees, closing costs, and loan terms to give you the real annual percentage rate (APR) of your mortgage. Use it to compare loan offers apples to apples and make smart, transparent choices when financing your home.

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