TPO: System Calculations - APR

Throughout the loan process, the system dynamically re-calculates the Annual Percentage Rate (APR) for the borrower’s loan whenever updates are made to the loan application, loan product, or fees. 

The current APR for any loan can be found at the top of the “Loan Details” page

The APR is driven by the borrower's projected payment schedule. To view the amortization schedule for the current loan, open the loan menu and select Amortization Schedule

Which fees are included in the APR?

To see which fees are included in calculating the APR, open the Fees tab. On this page, fees that are included in the APR are labelled on the left.

This label is color coded to indicate whether the fee has increased (green) or decreased (red) the APR, which is determined by which party is paying the fee - fees paid by the borrower increase the APR, while fees paid by the seller or another party decrease the APR.