**Calculate your earnings and more**

Use this annual percentage rate calculator to determine the annual percentage rate, or APR, for your mortgage. Press the "View Report" button for a full amortization schedule, either by year or by month.

**Definitions**

**Annual Percentage Rate (APR)**

A standard calculation used by lenders. It is designed to help borrowers compare different loan options. For example, a loan with a lower stated interest rate may be a bad value if its fees are too high. Likewise, a loan with a higher stated rate with very low fees could be an exceptional value. APR calculations incorporate these fees into a single rate. You can then compare loans with different fees, rates or different terms.

**Mortgage amount**

Original or expected balance for your mortgage.

**Term in years**

The number of years over which you will repay this loan. The most common mortgage terms are 15 years and 30 years.

**Interest rate**

Annual interest rate for this mortgage.

**Monthly payment**

Monthly principal and interest payment (PI).

**Total payments**

Total of all monthly payments over the full term of the mortgage. This total payment amount assumes that there are no prepayments of principal.

**Total interest**

Total of all interest paid over the full term of the mortgage. This total interest amount assumes that there are no prepayments of principal.

**Loan origination percent**

The percent of your loan charged as a loan origination fee. For example, a 1% fee on a $120,000 loan would cost $1,200.

**Points paid**

Total number of "points" purchased to reduce your mortgage's interest rate. Each "point" costs 1% of your loan amount.

**Other fees to include**

Any other fees that should be included in the APR calculation. These fees can vary by lender, but at a minimum usually includes prepaid interest.

Read more: Mortgage annual percentage rate calculator http://www.bankrate.com/calculators/mortgages/mortgage-apr-calculator.aspx#ixzz1Ed3x9zIR