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Lenders may provide different rates.This rate should only be used as reference.
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Rate,Fees,APR: Make sense of Loan Pricing
Your interest rate is what a lender charges you to borrow money. The rate is expressed as a percentage of the total loan amount (this is called the principal) and is used to CALCULATE your monthly mortgage payment. The interest rate you're quoted will vary based a lot of factors, some of the main ones being: the type of mortgage you choose, your total loan amount, the length of your term, your fnancial profle, and your credit history.
The additional cost of your mortgage will include several fees that can vary from lender to lender. While Sindeo does not charge you fees for its service because the lender pays us directly, expect to see an "origination, underwriting, or processing" fee from the lender, as well as third party costs such as appraisals, title services, escrow, and credit report. Lenders are required to provide a Loan Estimate within 3 business days of receiving your mortgage application. This includes an itemized list of fees, so review this closely and compare it to the Closing Disclosure's list of fees you'll receive just prior to closing.
In theory, the annual percentage rate ("APR") is a good way to compare mortgage prices because it includes the rate, points, and fees in its assessment of a loan's cost. So, why can't you just compare APRs of different loans? Despite lenders being required by law to provide homebuyers with an APR, they do not always follow the same standard for calculation - so what's included (or left out) is up to the lender's discretion.