Loan Comparison Calculator
Compare multiple loan offers side-by-side to find the best dealInputs
Loan Offers
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What is this?
A loan comparison calculator helps you evaluate multiple loan offers side-by-side. It compares interest rates, monthly payments, total interest costs, and fees to identify the best deal. Use it for mortgages, auto loans, personal loans, or student loan refinancing.How to use
Add 2-5 loan offers by entering the lender name, loan amount, interest rate (APR), term in years, and any upfront fees. The calculator automatically identifies which loan has the lowest monthly payment, lowest total cost, and best rate. Look at total cost, not just monthly payment - a lower payment with a longer term can cost more overall.Tips
- APR includes fees and is more accurate than interest rate alone - always compare APRs
- A 0.5% rate difference on a $300,000 mortgage saves ~$30,000 over 30 years
- Upfront fees matter - a loan with 1% higher fees might cost more than a loan with a 0.25% higher rate
- Shop around with at least 3-5 lenders - rates can vary by 0.5-1% for the same borrower
- Get all quotes within 14-45 days so credit checks count as one inquiry
- Consider total cost vs. monthly payment - sometimes paying more monthly saves thousands in interest
Disclaimer: This calculator provides estimates for informational purposes only and does not constitute financial advice. Actual results may vary based on lender terms, market conditions, and individual circumstances. Consult a qualified financial advisor before making financial decisions. See our full disclaimer for details.