Loan Comparison Calculator
Enter details for two loans (amount, rate, term). See monthly payment and total cost for each. Helps choose the better offer or compare a refinance to your current loan.
Compare two loans
Enter values to calculate.
How it works
We compute payment and total interest for each loan using the standard formula. Compare the totals to see which costs less over time, and whether a lower payment is worth more total interest.
When to use it
Use it to compare dealer vs bank rates, to compare 15- vs 30-year mortgages, or to see refinance savings.
Frequently asked questions
What if loan amounts differ?
Enter the actual amount for each. You are comparing two specific offers.
Include closing costs?
This tool compares P&I only. Add closing costs to the refinance side for break-even.