How is my mortgage rate calculated?

Your mortgage rate (or APRC) is how much you’ll see in charges to borrow money over the term of your mortgage. This also includes any additional fees or charges. As a result of all this, you’ll see the expression of this as a percentage. This is in order to help you easily compare different mortgages.

How to calculate a mortgage rate

There are many factors that can influence your mortgage rate. But two that you can have an impact are your credit score and the size of your deposit. A good credit score and a bigger deposit can give you a lower APRC. In turn, that means cheaper monthly payments. That’s how to calculate a mortgage rate.