Use our free mortgage loan comparison calculator to compare two mortgages side by side. See monthly payments, total interest, payoff dates, and discover which loan saves you more.
Mortgage Loan Comparison Calculator
Compare two mortgage offers side-by-side. Enter loan amount, interest rate, term and optional extra monthly payment. Results update instantly.
Loan A
Loan B
Choosing the right mortgage can save you thousands of dollars over time.
But with so many loan types, interest rates, and terms, it’s hard to know which is better.
Our free calculator solves this by letting you:
- Enter loan amount, term, and interest rate for two offers
- Add optional extra monthly payments to see early payoff impact
- Compare monthly payments instantly
- See total interest paid across the lifetime of each loan
- View estimated payoff date for both options
- Download a full amortization schedule in CSV
How to Compare Two Mortgage Loans
When comparing mortgages, you should look beyond just the interest rate. Here are the key metrics:
- Monthly Payment – What you pay every month
- Total Interest Paid – How much interest you’ll pay over the life of the loan
- Total Cost of the Loan – Principal + interest combined
- Payoff Timeline – Especially if you add extra payments
Step-by-Step: Using the Mortgage Loan Comparison Calculator
- Enter your loan amount for each option.
- Add the interest rate (APR).
- Choose the loan term (in years).
- (Optional) Enter an extra monthly payment.
- Click Calculate.
The tool will instantly display:
- Monthly payments for both loans
- Total interest over time
- Total repayment amount
- Loan payoff estimate
You can also toggle the amortization table for a month-by-month breakdown.
Example: Loan A vs. Loan B
Imagine two 30-year mortgages for $250,000:
- Loan A – 6% interest, no extra payments
- Loan B – 5.25% interest, no extra payments
The calculator shows:
- Loan A monthly payment: $1,499
- Loan B monthly payment: $1,380
- Loan B saves you $119 per month and over $40,000 in interest
Final Thoughts
A small difference in interest rate or loan term can mean tens of thousands in savings.
Instead of relying on guesswork, use our Mortgage Loan Comparison Calculator to make confident, money-smart decisions.
Explore more handy calculator tools on the Mainconverter homepage.
