Loan Comparison Calculator
Compare two loan offers side-by-side — different rates, terms, or fees — to see which actually costs less overall.
Cheaper option
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Loan A total cost —
Loan B total cost —
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How it works
Compares monthly payment and total cost (principal + interest + fees) for two loan scenariosFrequently Asked Questions
How do I compare two loan offers fairly?
Look beyond the interest rate alone — compare total cost including fees over the loan's life. A loan with a slightly higher rate but no origination fee can cost less overall than a lower-rate loan with a large upfront fee, especially if you won't keep the loan the full term.
Why might a lower interest rate not mean a cheaper loan?
A longer term at a lower rate can result in more total interest paid than a shorter term at a higher rate, because you're paying interest for more months even at the reduced rate. Compare total interest, not just the rate.
Should I always pick the loan with the lowest monthly payment?
Not necessarily — the lowest payment often comes from stretching the term, which usually means paying more in total interest over the life of the loan. Balance monthly affordability against total cost based on your priorities.