The APR is the actual yearly interest rate paid by the borrower, figuring in the points charged to initiate the loan and other costs. The APR discloses the real cost of borrowing by adding on the points and by factoring in the assumption that the points will be paid off incrementally over the term of the loan.
DISCLAIMER: The calculations performed by this calculator are mathematical estimates.
There is NO WARRANTY,
expressed or implied, for the accuracy of this information
or it's applicability to your financial situation.
Please consult your own financial
advisor before making any financial decisions.
