What’s really in that APR?
Two ways to use this. Build an APR from a rate and its costs — or do the reverse: take a quote’s rate and APR and decode how much in points and fees is hiding in the gap. That second one is how you catch a too-good rate before it catches you.
This is the calculator I most wish every borrower had before they started shopping. After comparing thousands of Loan Estimates, the oldest move in the book is still a headline rate that looks unbeatable — until you spot the APR sitting well above it. That gap is real money: points and fees, paid up front, that most quotes never bother to spell out. The decode side does it for you — drop in a rate and its APR and see roughly how much is buried, before you ever pick up the phone.
— Matt Mergo · NMLS #563819This calculator is an educational estimate, not a quote or loan offer. APR is computed from the note-rate payment and the finance charges shown, on a fixed-rate loan held to term. Real APR under federal rules includes a specific set of fees that can vary by lender, so a decoded figure is an approximation of total points and fees, not an exact itemization. Actual APR, points, and fees depend on the specific loan and disclosure. Forest Hills Mortgage · Matt Mergo, NMLS #563819. Equal Housing Opportunity.
Reviewed July 2026 · Matt Mergo, NMLS #563819