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Loan type guide

Loan Cost: Compare APR, Fees, Net Proceeds & Total Repayment

Break a loan into APR, finance charge, mandatory fees, net cash received, payment schedule and total repayment before comparing offers.

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✓Cost✓Timing✓Repayment

Check the actual providerConfirm who makes the credit decision.

Normalize the costCompare fees, APR, total due and dates.

Stress-test repaymentProtect essential cash after the payment.

Complete guide

Answers, tradeoffs and next steps

Use the sections below to evaluate fit, not to predict approval.

Interest rate and APR are not the same

CFPB’s current consumer guidance states that APR includes the interest rate plus additional fees charged with the loan, while the interest rate alone is the price of borrowing before those additional costs. That makes APR a better standardized comparison field when applicable. CFPB_RATE_APR

Net proceeds can differ from the headline principal

An origination or prepaid finance charge may reduce the cash a borrower actually receives. The page therefore displays both the nominal loan amount and usable proceeds, then calculates the payment obligation from the actual offer terms.

Interactive decision tool

Cash-after-payment check

Protect essential expenses and a cash buffer before continuing.

1Enter→2Compare→3Verify

Monthly take-home income$Essential expenses$Existing debt payments$Proposed new payment$

Illustrative resultEnter your numbers

Provider terms and current state requirements control any offer.

Decision infographic

Protect cash after the next payment

A route fails when repayment reopens the same gap.

IncomeNet cashUse take-home, not gross.

ProtectEssentialsHousing, food and utilities first.

ResultCash leftKeep a realistic buffer.

What controls the decision

EssentialsProtect

Existing debtInclude

New paymentStress-test

3/3

Ready to compare

Inputs, provider disclosure and repayment fit must agree.

Three gates before you continue

1Real gapCan the expense be reduced?
2Payment fitCash remains after essentials?
3FallbackLower-cost route checked first?

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Apply the result to this decision

Use the remaining checks before moving to a provider form.

Installment products can carry multiple fee types

CFPB lists possible personal-installment charges such as origination, documentation and late fees, with some insurance products generally optional. Payday Hex classifies each fee as required, conditional or optional rather than combining them blindly. CFPB_INST_FEES

Decision table

Cost field	Question Payday Hex answers
Principal / amount financed	How much credit is being extended?
Net proceeds	How much cash will I actually receive?
APR	What is the standardized annual cost measure?
Finance charge / mandatory fees	What required cost is added?
Payment schedule	How much and when?
Total of payments	What is scheduled to be repaid in all?

Quick comparison

What the product page must answer

Decision	Look for	Stop if
Availability	State eligibility and provider identity	The creditor or license path is unclear
Cost	Amount received, required fees, APR and total repayment	Only the payment size is shown
Timing	Decision, release and bank-posting stages	“Instant” is presented as guaranteed
Repayment	Exact dates, method and late-payment consequences	The payment reopens the same cash gap

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Related guides and tools

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