Comparing multiple loan offers with different rates, terms, and closing costs can be difficult. Use our loan comparison calculator to find out which loan will save you the most money.

Loan Comparision Calculator

Definitions

Loan Amount – The total loan amount.

Interest Rate – The annual interest rate of the loan.

Closing costs and lender fees – The total amount of all fees and closing costs charged by the lender for processing and funding the loan.

Loan term – The number of years in which the loan will be repaid. Most popular loan terms are 10 year, 15 year, and 30 year fixed-rate mortgage.

APR – The annual percentage rate is used to compare different loan offers by showing the true cost of a loan.

For example a no closing cost loan will usually have a slightly higher interest rate than a loan that includes closing costs. If the APR is higher on the no closing cost mortgage you know that the true cost of the loan is higher than the traditional loan.

Total interest paid – The total amount of interest that will be charged over the life of the loan.

Monthly payment – The monthly payment of the loan not including mortgage insurance (PMI), homeowners insurance, property taxes, and HOA fees.

Use our home affordability calculator to see how much house you can afford