Mortgage Library

What is the APR for this ARM Loan ?
Loan Information  Loan Amount  Length of Loan  Initial Years  Initial Rate (%)  Current Index  Margin	Mortgage Company Fees  Origination Fee  Discount Points  Mortgage Loan Fees
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) Results Loan Amount: $150000 Length of Loan: 30 Years Average Payment: $819.50 Average Rate: 5.155%   Initial Rate: 6.000% Monthly Payment: $899.33 Period Length: 3 Years Balance After 3 Yrs: $144,126.11 Adjusted Rate: 4.990% Monthly Payment: $810.63 Period Length: 27 Years   Origination Fee: $1,500.00 Discount Points: $1,500.00 Prepaid Interest: $375.00 Other Loan Fees: $1,000.00 Total Loan Fees: $4,375.00   Annual Percentage Rate: 5.357%

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.