Skip to content
Lendmira

APR calculator with fees

Two loans with the same interest rate can cost very different amounts once fees are counted. Enter an offer to see its true APR, laid out like the disclosure lenders must give you.

How the fee is paid

Truth in Lending disclosure

Annual percentage rate — The cost of your credit as a yearly rate
Finance charge — The dollar amount the credit will cost you
Amount financed — The amount of credit provided to you
Total of payments — What you will have paid after all payments
Monthly payment
—
Cash you receive
—

—

Check your rate

No credit check here

Compare real APRs from lenders

Tell us about the loan and lenders working with Lendmira can show you what they offer. Lendmira doesn't check your credit, and you don't have to accept anything.

  1. 1 The loan: amount, purpose, credit range, ZIP.
  2. 2 Your contact details and consent.
  3. 3 Lenders contact you with options. Compare APRs before you apply.

Step 1 of 2

About the loan
Your credit, roughly

Lendmira is not a lender, does not make credit decisions and is not paid by you. Lenders that contact you set their own rates and terms and may check your credit before making an offer. How we make money.

Interest rate or APR: which one to compare

The interest rate is what the lender charges on the balance. The APR adds the upfront finance charges, mainly the origination fee, and expresses the total as one yearly rate. Federal law (the Truth in Lending Act) requires the APR on every installment loan disclosure, in a box like the one above, so you can compare loans with different fee structures on a single number.

A worked example

Borrow $10,000 for three years at 10% interest with a 5% origination fee taken from the proceeds. You receive $9,500 but repay $322.67 a month on the full $10,000. Measured against the money you actually got, the APR is 13.56%, and the finance charge is $2,116.

Why a short term makes fees hurt more

A fee is paid once, so the shorter the loan, the more of the yearly cost it represents. The same 5% fee adds far more to the APR of a one-year loan than to a five-year one. If you plan to repay early, the effective cost of an upfront fee is higher still, because you never get the full term to spread it over.

The method follows Regulation Z's actuarial method; see how the calculators work.