Mortgage Comparison Calculator
Compare up to 3 mortgage scenarios side by side. Enter each loan's amount, rate, term, and fees to find the best deal.
| Loan Amount | $300,000 |
| Total Interest | $400,486 |
| Closing Fees | $3,000 |
| Total Cost | $703,486 |
| Loan Amount | $300,000 |
| Total Interest | $163,008 |
| Closing Fees | $2,500 |
| Total Cost | $465,508 |
How to Use This Mortgage Comparison Calculator
Enter up to 3 loan scenarios side by side. For each loan, enter the Loan Amount, Interest Rate, Term, and Closing Fees. The calculator instantly shows each loan's monthly payment, total interest, and total cost — and automatically highlights the best overall deal based on total cost.
Use the 2 loans / 3 loans toggle to compare as many scenarios as you have. Common use cases: comparing quotes from different lenders, comparing different down payment amounts, or evaluating rate vs. points tradeoffs.
What to Put in Closing Fees
Include lender-specific costs: origination fees, discount points (1 point = 1% of loan amount), underwriting fees, and application fees. Exclude third-party costs that are similar across lenders (appraisal, title, attorney fees) since those won't differ much between loan options.
How the Comparison Works
Total Interest = (Monthly Payment × n) − Loan Amount
Total Cost = Loan Amount + Total Interest + Closing Fees
Best Deal = Loan with Lowest Total Cost
Break-Even on Points = Points Cost ÷ Monthly Savings
Total cost is the most comprehensive comparison metric — it accounts for the rate, term, loan amount, and all upfront fees. A lower rate with $5,000 in extra points may cost more overall than a slightly higher rate with minimal fees, especially for shorter holding periods.
Example: Comparing Three Lender Quotes
Sarah's Side-by-Side Comparison — $300,000 Purchase
| Lender A | Lender B | Lender C | |
| Rate | 6.5% | 6.25% | 6.75% |
| Term | 30 yr | 30 yr | 20 yr |
| Closing Costs | $2,000 | $5,500 | $1,200 |
| Monthly Payment | $1,896 | $1,847 | $2,273 |
| Total Interest | $382,560 | $364,920 | $245,520 |
| Total Cost | $384,560 | $370,420 | $246,720 |
| Best for... | Low fees/flexibility | Lower rate, long-term | Fastest payoff |
Lender C (20-year) wins on total cost by $124,000 but has the highest monthly payment. If Sarah needs a lower payment, Lender A's lower fees make it competitive vs. Lender B's points despite the slightly higher rate. She'd break even on Lender B's extra points in ~9 years.