How to use this calculator
- Enter amount, rate, term, and fees for both loans.
- Review monthly payment and lifetime total cost.
- Use total cost rather than rate alone.
- Choose the loan that best fits both cash flow and total cost.
#267 · Finance Tool
Loan Comparison Calculator
Compare two loan offers using monthly payment, total interest, fees, and lifetime cost rather than interest rate alone.
Calculator
Loan A vs Loan B inputs$
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What the result means
Compare two loan offers using monthly payment, total interest, fees, and lifetime cost rather than interest rate alone. The result is an estimate for planning and comparison. It does not replace professional financial advice.
FAQ
Why can a lower-rate loan cost more?
This calculator estimates the result from the values you enter. Adjust the assumptions to compare scenarios before making decisions.
Are fees included in the comparison?
This calculator estimates the result from the values you enter. Adjust the assumptions to compare scenarios before making decisions.
Does a longer term lower monthly payments?
This calculator estimates the result from the values you enter. Adjust the assumptions to compare scenarios before making decisions.
Which loan is recommended?
This calculator estimates the result from the values you enter. Adjust the assumptions to compare scenarios before making decisions.
Can this compare auto, personal, or student loans?
This calculator estimates the result from the values you enter. Adjust the assumptions to compare scenarios before making decisions.