Loan APR Calculator
A quoted interest rate ignores the fee taken out of your loan before you see the money. Enter the rate, term and up-front fees to estimate the effective, fee-inclusive APR — the number worth comparing between offers.
Method and copy last reviewed · How our calculations work
The offer you're checking
Enter the note rate and any origination or processing fee. Everything runs in your browser.
The interest rate on the note, before fees
Origination, processing or admin fees paid at closing
Estimated effective APR
Fee-inclusive APR (estimate)
11.11%
That's 1.61% above the 9.5% note rate, because the fees shrink the cash you actually receive.
- Monthly payment
- $376.85
- Cash in hand after fees
- $14,550.00
- Total interest
- $3,088.66
- Total cost with fees
- $3,538.66
This is an estimate, not a lender disclosure. A regulated APR depends on which charges count as finance charges, the exact first-period length and each lender's rounding rules. Use the APR printed on your loan agreement as the official figure — this tool is for comparing offers before you get there, over 4 yr.
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Ask about your numbers
Fetch explains your results in plain English. Every number comes from re-running the calculator above, so the figures are exact — never generated.
How the estimate is calculated
The monthly payment is fixed by the loan amount, the note rate and the term. The cash you actually receive is that amount minus fees. The calculator then solves for the monthly rate r that satisfies net proceeds = P · (1 − (1 + r)⁻ⁿ) / r, using bisection, and multiplies the result by 12.
The method is deterministic and runs in your browser. It is an approximation of the regulatory calculation, which is why we label the output an estimate rather than a disclosure.
A worked example
Borrow $15,000 at 9.5% over 48 months with a $450 origination fee. The payment is about $377 a month, but only $14,550 reaches you. Solving the payment stream against $14,550 gives an effective APR a little over 10.7% — roughly 1.2 points above the quoted rate.
Stretch the same fee over 60 months and the premium shrinks; compress it into 24 months and it grows sharply. The fee has not changed — the number of payments carrying it has.
Key considerations
Compare APRs only between offers for the same amount and term. If terms differ, compare total cost as well; the loan comparison tool does both at once.
Fees rolled into the balance rather than deducted from proceeds behave slightly differently. If that is your situation, enter the amount you actually receive as the loan amount and leave fees at zero to sanity-check the other direction.
Frequently asked questions
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FetchCalc is an independent calculator and educational service. We are not a lender, broker, or financial adviser, and nothing here is financial advice. Estimates are for planning only; your actual offer and payment will come from your lender.