Loan comparison
Compare two loans side by side.
A loan comparison calculator helps you see how two mortgage options differ beyond the headline interest rate. A lower monthly payment may feel easier, but a different term or rate can change total interest over time.
This tool compares Loan A and Loan B using loan amount, interest rate, and loan term. It estimates monthly payment, total interest, total payment, monthly payment difference, total interest difference, and a simple recommendation based on lower total payment.
Use this page with the Mortgage Calculator, Refinance Calculator, and Amortization Calculator.
Calculator
Enter your scenario details.
The estimate updates instantly in your browser as you adjust the inputs.
Simple Recommendation-
Monthly Payment A$0
Monthly Payment B$0
Total Interest A$0
Total Interest B$0
Total Payment A$0
Total Payment B$0
Monthly Difference$0
Total Interest Difference$0
This comparison focuses on principal and interest only and does not include taxes, insurance, closing costs, PMI, or lender fees.
Your input is processed in your browser. Dicno Labs does not upload or store the data you enter in this tool.
How it works
How two mortgage loans are compared
This calculator uses the standard fixed-rate payment formula for each loan. The monthly payment depends on loan amount, interest rate, and number of monthly payments. Once the monthly payment is estimated, total payment is the monthly payment multiplied by the number of months, and total interest is total payment minus loan amount.
The comparison can reveal tradeoffs that are not obvious at first glance. A loan with a lower rate may have a lower payment and lower total interest. A shorter loan term may have a higher monthly payment but much lower lifetime interest. A longer loan term may improve cash flow while increasing total cost.
For example, compare a $320,000 loan at 6.5% for 30 years with a $320,000 loan at 5.9% for 30 years. The lower-rate loan should have a lower monthly payment and lower total interest if the terms are otherwise the same. But if Loan B had a shorter 15-year term, the monthly payment could be higher while total interest could be far lower.
The recommendation is intentionally simple and based on lower total payment. Real decisions may also depend on closing costs, expected time in the home, refinance plans, cash flow, risk tolerance, and whether the loan has features that this calculator does not model.
Worked example
If Loan A costs $2,023 per month and Loan B costs $1,899 per month for the same 30-year balance, Loan B saves about $124 per month. Over 360 payments, the total interest difference can be much larger than the monthly gap suggests.
