Finance Tools
Mortgage Comparison Calculator
Compare two mortgage offers side by side by monthly payment, total interest, and total cost.
Compare two mortgage offers side by side to see which one has the lower monthly payment, total interest, and total cost.
Option A
Option B
How to use this mortgage comparison calculator
- Enter the loan amount for both mortgage options (or the same amount if you’re comparing rates and terms).
- Enter the interest rate and term (years) for Option A.
- Enter the interest rate and term (years) for Option B.
- Click Compare to see monthly payments, total interest, and total cost for each option.
- Use the comparison to decide which mortgage offer is cheaper over time.
Example
For example, if Option A is a 30-year loan at 6.5% and Option B is a 15-year loan at 5.8% for the same $400,000 amount, this calculator will show:
- The monthly payment for Option A vs Option B.
- Total interest paid over the life of each loan.
- Total cost (principal + interest) for each mortgage.
- Which option is cheaper long term and how much you save by choosing the better one.
More tools in Finance Tools
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- Mortgage Calculator
Estimate your monthly mortgage payment based on loan amount, interest rate, and term.
- Home Affordability Calculator
Estimate how much house you can afford based on your income, debts, and loan terms.
- Amortization Calculator
Generate a full amortization schedule with monthly principal and interest breakdown.