Loan Comparison Calculator
Compare two fixed-rate offers using net cash received, fees, payments and remaining debt on the same horizon, with full downloadable schedules.
Open the comparisonStart with the same amount of useful cash
A lower payment can come from a longer term, a different amount borrowed or higher financed fees. A fair comparison starts by understanding initial principal and net cash after time-zero fees. Our two-offer tool displays both and leaves cost differences unavailable when net proceeds differ.
Compare a common date and the complete term
The same-horizon view adds payments already made to the principal still owed, then subtracts initial net cash. It represents financing cost if the remaining principal could be settled at that point without a prepayment fee. It does not mistake a lower payment for lower cost while leaving a larger debt unpaid.
The full-term view separately shows all interest, entered fees and payments under the selected extra-payment assumption. A cash-flow rate discounts the actual modelled payment sequence back to initial net proceeds. That calculation is clearly distinguished from the APR in a lender’s regulated disclosure.
Inspect an invented comparison
Offer A starts with a $10,000 base loan at 8% for 36 months and a $200 upfront fee. Offer B starts with $9,800 at 7.5% for 48 months and $300 financed fees. Both leave $9,800 net cash. Their regular payments are $313.36 and $244.21, but their full financing costs are $1,481.13 and $1,921.90 under this monthly model.
After 24 payments, their settlement costs are $1,323.10 and $1,487.82. The lower payment in the second example does not establish a cheaper loan. These amounts are invented; no lender availability, approval or advertised rate is implied.
- How to compare loans on the same date
- Interest, fees and cash-flow rates
- Calculation order, rounding and model limits
For multiple existing debts, use the debt payoff spreadsheets. For property-specific refinancing assumptions, inspect the mortgage decision tools.