Mortgage Loan Comparison Calculator
Primary Loan Details
$10,000
$1,000,000
0%
50%
1%
10%
Loan Summary
Principal
$200,000
Monthly Payment
$1,013
Total Interest
$164,813
Total Cost
$364,813
Key Insights
- With your current loan parameters, you’ll pay $164,813 in interest over the life of the loan.
- Your monthly payment of $1,013 represents 28% of the monthly income typically recommended for a loan of this size.
Our interactive Mortgage Loan Comparison Calculator helps homebuyers and refinancers instantly compare loan options to find the lowest total cost. See how different interest rates, terms, and down payments affect your monthly payments and total interest paid. Make smarter financial decisions with real-time visual comparisons that could save you thousands over the life of your loan.
How to Use:
- Set Your Primary Loan Parameters:
- Adjust the loan amount slider ($10,000 to $1,000,000)
- Set your down payment percentage (0% to 50%)
- Select your interest rate (1% to 10%)
- Choose your loan term (10, 15, 20, or 30 years)
- Review Your Loan Summary:
- See your principal amount after down payment
- View your monthly payment amount
- Check total interest paid over the loan’s lifetime
- See the complete cost of your loan
- Compare Different Loan Options:
- Toggle “Compare with another loan”
- Adjust the comparison interest rate and term
- Instantly see monthly payment differences
- View potential savings or additional costs
- Compare loan balances over time on the visual chart
- Analyze Your Results:
- Review the amortization chart to visualize how your balance decreases over time
- Read the key insights section for personalized financial guidance
- Make informed decisions based on complete cost information
Try our calculator today to find the mortgage loan that best fits your financial goals and potentially save thousands in interest payments!
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