Loan Comparison Calculator
Enter two loan or mortgage offers side by side and see exactly which one costs less, monthly and over the full term.
| Loan A | Loan B | |
|---|---|---|
| Monthly payment | $0 | $0 |
| Total interest paid | $0 | $0 |
| Total paid over term | $0 | $0 |
Nothing you enter is sent to or stored by us. This runs entirely in your browser. Share puts your numbers in the link itself, so anyone who opens it can see them.
Common questions
How do I compare two loan offers?
Enter each loan's amount, interest rate, and term above. This calculator shows both monthly payments and both total costs side by side, so you can see which one actually costs less, not just which one sounds cheaper.
Does a lower monthly payment always mean a better loan?
No. A longer term usually lowers the monthly payment but increases total interest paid. Check both the monthly payment and the total interest row above before deciding. The cheaper monthly option is often the more expensive loan overall.
Can I use this to compare two mortgage refinance offers?
Yes. Enter your current loan balance as the amount for both (leave down payment at $0 since you're not making one on a refinance), then use each lender's offered rate and term to see which refinance actually saves you money.
What matters more, the interest rate or the loan term?
Both affect total cost, which is why comparing side by side matters more than looking at either number alone. A slightly higher rate on a shorter term can cost less overall than a lower rate stretched over more years.
What's the best way to make sure I'm comparing real offers, not estimates?
Get written quotes with the exact rate and term each lender will actually give you, then enter those real numbers here instead of averages, since small rate differences change the total cost more than most people expect.