Loan Comparison Calculator - Compare 2 Mortgages Side-by-Side
Mortgage Comparison Calculator
Loan 1
loan 2
Quickly compare two mortgage loans to see which one is a better deal. Our free calculator helps you compare monthly payments, total interest payments, APR, closing costs, and more to make an informed decision.
Calculation Results
| Loan | Loan 1 | Loan 2 | Difference |
|---|---|---|---|
| Down Payment | |||
| Loan Amount | |||
| Loan Term | |||
| Monthly Pay | |||
| Total Interest | |||
| Total Monthly Payments | |||
| Start Date | - | ||
| Payoff Date | - | ||
| Discount Points | |||
| Origination Fee | |||
| Documentation Fee | |||
| Other Fees | |||
| Points + Fee | |||
| Total Closing Costs | |||
| Real rate (APR) | |||
| Total Costs |
Amortization Schedule
Loan 1
| Year | Date | Payment | Principal | Interest | End Balance |
|---|
| Month | Date | Payment | Principal | Interest | End Balance |
|---|
Loan 2
| Year | Date | Payment | Principal | Interest | End Balance |
|---|
| Month | Date | Payment | Principal | Interest | End Balance |
|---|
Why Compare Loans?
When shopping for a mortgage, comparing multiple loan offers is essential. Even small differences in interest rates, fees, or loan terms can result in thousands of dollars in savings over the life of your loan. This calculator allows you to compare two loans side-by-side to identify which option works better for your financial situation.
References
This calculator is based on standard mortgage calculation methods and industry practices. For more information about mortgages and home loans, please refer to these authoritative sources:
- Consumer Financial Protection Bureau - Loan Options - Official U.S. government resource for understanding mortgage loans
- U.S. Department of Housing and Urban Development - Home Loans - Information about FHA loans and mortgage programs
- Federal Reserve - Looking for the Best Mortgage - Guide to shopping for mortgages
- Federal Trade Commission - Mortgage Shopping - Consumer protection information
- CFPB - Understanding APR vs Interest Rate - Explanation of APR calculations
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