Enter the payment quote your lender gave you to estimate the implied interest rate and loan amount.
Estimate the interest rate from the payment quote, before lender fees.
Implied interest rate
6.118%
$1,700.00/mo P&I on $280,000.00 borrowed
Rate implied by the quote
Compare this implied interest rate with the interest-rate field on actual offers. Points and fees affect APR, which this tool cannot derive.
Your lender quoted $2,100.00/month on a $350,000.00 purchase with $70,000.00 down over 30 years—that works out to about 6.118% interest before fees. It is not a disclosed APR.
Payment Breakdown
Total paid: $612,000.00.
Enter the purchase price, down payment, loan term, and quoted monthly payment. The calculator derives the loan amount by subtracting the down payment from the purchase price. If the quote includes monthly taxes and insurance, enter those extras so the solver can remove them. Other charges such as HOA dues or mortgage insurance must also be separated before treating the remaining payment as principal and interest.
The calculator subtracts entered taxes and insurance from the quoted payment, then solves the fixed-rate amortization formula backward for the interest rate that would produce that principal-and-interest payment.
The output is an implied interest rate for the inputs, not an APR, market-rate benchmark, or lender offer. A rate that looks too high can mean the quote still includes charges the solver did not remove or the loan amount or term was entered incorrectly.
The solver assumes a fixed-rate, fully amortizing loan and searches rates from 0% through 25%. The principal-and-interest payment must be at least the zero-interest principal payment over the term. The total of quoted payments assumes entered taxes and insurance remain unchanged throughout the term. Missing charges in the quote can distort the rate.