Loan Comparison Calculator
Compare up to 3 loan offers side by side on monthly payment and total interest.
🔒 Runs entirely in your browser — nothing here is ever uploaded
About the Loan Comparison Calculator
Compares up to 3 competing loan offers for the same purchase side by side — monthly payment and total interest paid — using the standard fixed-rate amortization formula, and flags when the lowest monthly payment isn't actually the cheapest offer overall.
- Enter the loan amount, APR, and term (in months) for up to 3 offers.
- Leave any unused offer's loan amount at 0 to compare just 2 (or 1).
- Read each offer's monthly payment and total interest, plus the plain-language comparison insight.
A $20,000 loan at 6% APR over 36 months costs about $608.42/month with about $1,903.12 total interest; the same $20,000 at 5% APR over 60 months costs less per month (about $377.36) but more in total interest (about $2,641.60).
Assumes a fixed-rate, fully-amortizing loan for every offer — no balloon payment, no variable-rate adjustment, and no origination fees or points factored in. If any offer carries fees the others don't, factor those in separately.
- • A lower monthly payment often comes from a longer term, not a better rate — always check total interest alongside the monthly payment.
- • Two offers with the same total interest can still differ a lot in monthly payment if their terms differ.
- • This tool doesn't include fees — ask each lender for the full cost breakdown.
Illustrative estimate only, not financial or tax advice. Verify figures with a licensed adviser or your local tax authority.