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What is the APR for this ARM Loan?

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Description
This calculator estimates the Annual Percentage Rate (APR) for a given ARM loan. In addition to its interest rate, we must also take into account the loan's origination fee, discount points, and all other loan fees in order to calculate the APR of the loan. Mortgage loan fees normally include Appraisal, Credit Report, Processing, Document Preparation, Administration, Underwriting, Flood Certificate, Tax Service, Wire Transfer, and other fees.
What is the APR for this ARM Loan?
Loan Information
Loan Amount ($)  Glossary of Terms
Length of Loan (Yrs)  Glossary of Terms
Initial Period (Yrs)  Glossary of Terms
Initial Rate (%)  Glossary of Terms
Current Index (%)  Glossary of Terms
Margin (%)  Glossary of Terms
Mortgage Fee Information
Origination Fee (%)  Glossary of Terms
Discount Points (%)  Glossary of Terms
Other Loan Fees ($)  Glossary of Terms

Result
Loan Amount: $150,000.00
Lenght of Loan: 30 Years
Average Monthly Payment: $742.21
Average Rate: 4.299%
Initial Rate: 6.500%
Monthly Payment: $948.10
Period Length: 3 Years
Balance after 3 Yrs: $144,625.86
Adjusted Rate: 3.860%
Monthly Payment: $719.33
Period Length: 27 Years
Origination Fee: $1,500.00
Discount Points: $1,500.00
Other Loan Fees: $1,000.00
Total Loan Fees: $4,000.00
Annual Percentage Rate (APR): 4.528%

Glossary of Terms
Loan Amount: Money borrowed that is usually repaid with interest to purchase property. Return to Top
Length of Loan: The number of years required to pay off the principal and interest of the loan. Return to Top
Initial Period: The starting period where the interest rate is fixed during the duration. The initial period could be 1, 3, 5, 7 and 10 years. Return to Top
Initial Rate: Initial annual interest rate for this mortgage. The rate is fixed for the whole initial period. Return to Top
Current Index: After the the end of the initial period, the mortgage rate is based on a current index. The current index could be based on U.S. treasuries and national or regional average cost of funds to savings and loan associations. Return to Top
Margin: To determine the interest rate on an ARM, lenders add to the index rate a few percentage points called the "margin." The amount of the margin can differ from one lender to another, but it is usually constant over the life of the loan. Return to Top
Origination Fee: The charge for originating a loan; is usually calculated in the form of points and paid at closing. It is expressed as a percentage of the loan amount. Return to Top
Discount Points: Interest Charges paid up-front when a borrower closes a loan. A point is equal to 1 percent of the loan amount (e.g. 1.5 points on a $100,000 mortgage would cost the borrower $1,500). Generally, by paying more points at closing, the borrower reduces the interest rate of his loan and thus future monthly payments. Return to Top
Other Loan Fees: Fees include appraisals, credit report, document preparation, underwriting, flood certificate and Tax Service. Return to Top

Disclaimer: We cannot guarantee the accuracy of this calculator. You should check with your finance provider before entering into any contracts.