Compare Loans

Put two or three loan offers next to each other and see which one costs the least overall.

Loan A Amount ($) Rate (% per year) Term (years)

Loan B Amount ($) Rate (% per year) Term (years)

Loan C (optional) Amount ($) Rate (% per year) Term (years)

How to compare loan offers

Do not choose only by the monthly payment. A longer loan has a lower payment but you pay interest for more years, so it usually costs much more in total. Compare the total paid row, and check that the monthly payment fits your budget.

A lower rate helps, but so does a shorter term. The best offer for you is the cheapest one whose payment you can comfortably afford.

What else to check before you sign

Fees: origination fees, points and closing costs are not in this comparison. Add them to the amount, or compare the APR.
Prepayment penalties: some loans charge you for paying early.
Fixed or variable: a variable rate can change the payment later.
Loan type: secured loans (such as a mortgage or a car loan) usually have lower rates than unsecured ones.

These calculators give estimates for education and planning. They are not financial advice, and real lenders may add fees, taxes, insurance or different rounding. Nothing you type is sent anywhere.