Loan Comparison Calculator
Compare two loan options side by side. See how different terms and rates affect your monthly payment and total interest paid.
Loan A
Loan B
Total Interest Saved with Loan B
$234,211
$382,632 vs $148,421
Loan A Monthly
$1,896.20
Loan B Monthly
$2,491.23
Loan B saves $234,211 in total interest. Loan A has the lower monthly payment by $595/mo.
Remaining Balance Over Time
Total Interest
$287,478.03
Total Payments
$687,478.03
Total Interest
$150,795.17
Total Payments
$550,795.17
Comparison Summary
Loan 1 Payment
$1,909.66
Loan 2 Payment
$3,059.97
Payment Difference
+$1,150.31
Interest Savings
+$136,682.86
Remaining Balance Over Time
Shows remaining principal on each loan over time.
Amortization Schedule
| Year | Month | Payment | Principal | Interest | Balance | Total Interest |
|---|---|---|---|---|---|---|
| 1 | 12 | $1,909.66 | $597.82 | $1,311.85 | $392,955.85 | $15,871.79 |
| 2 | 12 | $1,909.66 | $622.17 | $1,287.49 | $385,624.72 | $31,456.59 |
| 3 | 12 | $1,909.66 | $647.52 | $1,262.14 | $377,994.90 | $46,742.70 |
| 4 | 12 | $1,909.66 | $673.90 | $1,235.76 | $370,054.23 | $61,717.97 |
| 5 | 12 | $1,909.66 | $701.36 | $1,208.30 | $361,790.05 | $76,369.72 |
| 6 | 12 | $1,909.66 | $729.93 | $1,179.73 | $353,189.17 | $90,684.78 |
| 7 | 12 | $1,909.66 | $759.67 | $1,149.99 | $344,237.88 | $104,649.42 |
| 8 | 12 | $1,909.66 | $790.62 | $1,119.04 | $334,921.90 | $118,249.38 |
| 9 | 12 | $1,909.66 | $822.83 | $1,086.83 | $325,226.38 | $131,469.78 |
| 10 | 12 | $1,909.66 | $856.35 | $1,053.31 | $315,135.84 | $144,295.18 |
| 11 | 12 | $1,909.66 | $891.24 | $1,018.42 | $304,634.19 | $156,709.47 |
| 12 | 12 | $1,909.66 | $927.55 | $982.11 | $293,704.70 | $168,695.91 |
| 13 | 12 | $1,909.66 | $965.34 | $944.32 | $282,329.92 | $180,237.06 |
| 14 | 12 | $1,909.66 | $1,004.67 | $904.99 | $270,491.71 | $191,314.79 |
| 15 | 12 | $1,909.66 | $1,045.61 | $864.06 | $258,171.20 | $201,910.21 |
| 16 | 12 | $1,909.66 | $1,088.20 | $821.46 | $245,348.73 | $212,003.68 |
| 17 | 12 | $1,909.66 | $1,132.54 | $777.12 | $232,003.85 | $221,574.73 |
| 18 | 12 | $1,909.66 | $1,178.68 | $730.98 | $218,115.28 | $230,602.10 |
| 19 | 12 | $1,909.66 | $1,226.70 | $682.96 | $203,660.87 | $239,063.62 |
| 20 | 12 | $1,909.66 | $1,276.68 | $632.98 | $188,617.57 | $246,936.25 |
| 21 | 12 | $1,909.66 | $1,328.69 | $580.97 | $172,961.38 | $254,195.99 |
| 22 | 12 | $1,909.66 | $1,382.83 | $526.83 | $156,667.33 | $260,817.88 |
| 23 | 12 | $1,909.66 | $1,439.17 | $470.50 | $139,709.43 | $266,775.92 |
| 24 | 12 | $1,909.66 | $1,497.80 | $411.86 | $122,060.65 | $272,043.07 |
| 25 | 12 | $1,909.66 | $1,558.82 | $350.84 | $103,692.82 | $276,591.18 |
| 26 | 12 | $1,909.66 | $1,622.33 | $287.33 | $84,576.67 | $280,390.96 |
| 27 | 12 | $1,909.66 | $1,688.43 | $221.23 | $64,681.69 | $283,411.91 |
| 28 | 12 | $1,909.66 | $1,757.22 | $152.44 | $43,976.16 | $285,622.31 |
| 29 | 12 | $1,909.66 | $1,828.81 | $80.85 | $22,427.05 | $286,989.14 |
| 30 | 12 | $1,909.66 | $1,903.32 | $6.34 | $0 | $287,478.03 |
About This Analysis
This calculator provides estimates based on the inputs you supply. It assumes standard amortization and does not account for taxes, insurance, PMI, prepayment penalties, or the opportunity cost of funds. Results are for informational and educational purposes only and should not be considered financial advice. Consult a qualified professional before making financial decisions.
- ·Assumes fixed interest rates for the full loan term.
- ·Does not include taxes, insurance, or other escrow costs.
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Insights
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