APR Calculator
See the real annual cost of a loan after folding in origination and closing fees.
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How it works
The interest rate alone hides the cost of upfront fees. APR is the rate that equates your actual payments to the cash you really received — loan amount minus fees — so it is the right number for comparing two offers head to head.
Frequently asked questions
Why is APR higher than the interest rate?
Because you pay fees up front but borrow as if you received the full amount, the effective cost of the money is higher. The larger the fees relative to the loan, the bigger the gap.
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