Loan Comparison Calculator
Two loan offers head-to-head: payment, interest and total cost.
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How this calculator works
Lenders never make comparison easy: one offers a lower rate with fees, another a higher rate with a longer term and a lower payment. The monthly payment alone cannot tell you which is cheaper, because term length and fees hide in the total. This loan comparison calculator puts two offers head-to-head on the numbers that matter: each monthly payment, each total interest bill, and each all-in cost including origination fees, then declares the winner by lowest total cost and shows both payoff curves.
The classic trap it exposes: the longer-term loan almost always has the lower payment but the higher total cost, sometimes by thousands. Fees matter too, a "low rate" with $2,000 in origination fees can lose to a slightly higher no-fee rate, especially if you might pay the loan off early (fees are sunk on day one). When comparing, also check the fine print the math cannot see: prepayment penalties, variable vs fixed rates, and what happens if you miss a payment. Use the winner as your negotiating baseline, then ask the losing lender to beat it.