Loan comparison — A.P.R.s

This will calculate: the true annual percentage rate on two loans side by side, so a borrower can see which one actually costs less.

The quoted interest rate alone will not tell you. Points and up-front fees are paid at closing but bought with the loan, so they raise the real cost. A loan at a lower rate with three points can easily be more expensive than a higher rate with none.

Enter each loan's amount, term, rate, points and fees. The A.P.R. rolls all of it into one comparable number.