Loan Comparison Calculator
Compare two mortgage options side by side. Adjust loan amounts, rates, and terms to see which option saves you more in monthly payments and total interest.
Loan A
Loan B
Side-by-Side Comparison
Loan A | Loan B | Difference | |
|---|---|---|---|
| Monthly Payment | $2,166 | $2,878 | -$712 |
| Total Interest | $429,906 | $168,112 | +$261,794 |
| Total Cost | $779,906 | $518,112 | +$261,794 |
Common Comparisons to Try
30-year vs. 15-year fixed
The classic comparison. A 15-year term has higher monthly payments but dramatically lower total interest — often saving $100,000+ over the life of the loan. The right choice depends on your monthly budget and long-term goals.
VA loan vs. conventional
Set Loan A to a VA rate (typically 0.25-0.50% lower) with $0 down and Loan B to a conventional rate with 10% down. Remember: VA loans don't have PMI, which isn't reflected in this basic comparison but adds $150-400/mo to the conventional option.
FHA vs. conventional
FHA loans offer lower rates and 3.5% down but include upfront and annual mortgage insurance premiums. Compare the total cost to a conventional loan with 5% down and PMI to see which is cheaper over time.
Current rate vs. refinance rate
Considering a refinance? Put your current loan terms in Loan A and the potential new terms in Loan B. Factor in closing costs (2-5% of loan amount) — the interest savings need to exceed the costs for refinancing to make sense.
Lower rate vs. lower fees
Sometimes a lender offers a lower rate with higher fees (points), while another offers a higher rate with no fees. Compare the total cost over your expected ownership period to find the better deal.
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