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MAPR calculator for Closed-End Loans

Use this calculator to determine the Military Annual Percentage Rate (MAPR) for a loan. Press the report button for a full amortization schedule, either by year or by month.

MAPR calculator for Closed-End Loans Definitions

Amount financed
The amount of credit provided to the borrower or on the borrower's behalf.
Interest rate
Annual interest rate for this loan.
Term in years
The number of years over which you will repay this loan.
Monthly payment
Monthly principal and interest payment (PI).
Credit insurance premiums
Interest or finance charge for credit insurance premiums or fees.
Debt cancellation
Fee for a debt cancellation contract.
Debt suspension
Fee for a debt suspension agreement.
Credit-related ancillary product sold
Fee for a credit-related ancillary product sold in connection with the credit transaction.
Plan participation fee
Any fee imposed for participation in any plan. The MLA rule excludes an application fee charged by a Federal Credit Union, or an insured depositary institution, when making a short-term, small amount closed-end loan that is subject to and made in accordance with a Federal law. One application fee per rolling 12 month period is not included in the MAPR.
Other fees
Any other fees that should be included in the MAPR calculation. These fees can vary by lender, but at a minimum usually includes prepaid interest.
Military Annual Percentage Rate (MAPR)
A standard calculation used by lenders for loans covered by the Department of Defense's Military Lending Act & Regulation Z. It is similar to a standard APR calculation but includes additional fees in the calculation and limits any loan to a MAPR of no more than 36%. For example, a loan with a lower stated interest rate may be a bad value if its fees are too high. Likewise, a loan with a higher stated rate with very low fees could be an exceptional value. MAPR calculations incorporate these fees into a single rate.