Loan Comparison Calculator

How to Compare Loan Offers

When shopping for a loan, don't just look at the monthly payment. A loan with a lower monthly payment might cost you more overall if it has a longer term. This calculator lets you compare two loan offers side by side so you can see the total cost of each option.

Factors Beyond Interest Rate

While the interest rate is the biggest factor in loan cost, also consider origination fees, prepayment penalties, and whether the rate is fixed or variable. A loan with a slightly higher rate but no fees might be cheaper overall than one with a lower rate and high fees.