Loan comparison calculator

Updated 2026-09-26

Using Loan comparison calculator

Compare two fixed-rate loans for the same principal using their monthly payments and total outlay including upfront fees.

Assumes monthly interest at annual rate ÷ 12, a fixed rate, and payments at month-end. No daily accrual, fees, taxes, insurance, changing rates, or prepayment penalties. The model keeps unrounded balances; schedule rows show cents and may differ slightly from a lender’s rounding. Maximum 1,200 months. Fees are paid upfront, not financed. A lower monthly payment can still mean a higher total. This does not calculate a regulated APR or compare timing through discounted cash flows.

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A worked example

With loan amount for both offers = 12000, offer a annual interest percent = 0, offer a months = 12, offer a upfront fees = 0, offer b annual interest percent = 0, offer b months = 24, offer b upfront fees = 100, the lower modeled total is 12,000.00 (rounded to two decimal places).

Before you use the result

Assumes monthly interest at annual rate ÷ 12, a fixed rate, and payments at month-end. No daily accrual, fees, taxes, insurance, changing rates, or prepayment penalties. The model keeps unrounded balances; schedule rows show cents and may differ slightly from a lender’s rounding. Maximum 1,200 months. Fees are paid upfront, not financed. A lower monthly payment can still mean a higher total. This does not calculate a regulated APR or compare timing through discounted cash flows. Calculations keep full browser-number precision. Money amounts are displayed to two decimal places; other results use up to 12 significant digits. Very large values may lose precision.