What will this loan actually cost?

Most calculators quote a payment and quietly skip the guaranty fee and the fact that your rate resets every quarter. Both change the answer.

Loan amount

Term

Prime rate

Lender's markup

Closing & packaging fees

Fees paid

Monthly payment

Real APR with fees

Note rate

Total fees

Total interest

Cash at close

Where the fees go

resets quarterly

Your payment is not fixed. Plan the deal so it still works at the right-hand number — a two-point move is ordinary.