APR ARM Loan Calculator

Instructions
This APR Calculator can be used to estimate the Annual Percentage Rate for an Adjustable Rate Mortgage based on input parameters. The ARM parameters (Initial Rate, Index, Margin) are neccessary to compute the APR. There are various ways that companies compute APR. Mortgage Company Fees may include Appraisal, Credit Report, Processing, Document Preparation, Administration, Underwriting, Flood Certificate, Tax Service, Wire Transfer, and other fees. (This APR Calculation assumes 15 days of Prepaid Interest)

Loan Information
[200000] Loan Amount
[30] Length of Loan
[3] Initial Years
[6] Initial Rate (%)
[4.93] Current Index
[2.75] Margin

Mortgage Company Fees
[1] Origination Fee
[1] Discount Points
[1000] Mortgage Loan Fees

Results
Loan Amount: $200000
Length of Loan: 30 Years
Average Payment: $1,387.19
Average Rate: 7.418%

Initial Rate: 6.000%
Monthly Payment: $1,199.10
Period Length: 3 Years
Balance After 3 Yrs: $192,168.14
Adjusted Rate: 7.680%
Monthly Payment: $1,408.09
Period Length: 27 Years

Origination Fee: $2,000.00
Discount Points: $2,000.00
Prepaid Interest: $500.00
Other Loan Fees: $1,000.00
Total Loan Fees: $5,500.00

Annual Percentage Rate: 7.805%

These calculations are only estimates and should not be used to determine actual loan costs. Please consult your tax advisor for information on the deductibility of interest for tax purpose. Refinancing or taking out a home equity loan or line of credit may increase the total number of monthly payments and the total amount paid when comparing to your current situation.