Which Loan is Better?

To find the best loan package you might have to compare several lenders’ offers in order to decide which is best for you. This calculator allows loan numbers to be displayed side-by-side for direct comparison so that you can zero in on the best deal.

To use the calculator, enter the following information for Loan 1 and Loan 2:

Input Information: Amount, Interest Rate, Length (in years), Points, Origination Fees and Closing Costs.

The calculator will compute the following information for Loan 1 and Loan 2:

Points Value
Origination Fees
Total Closing Costs
Amount Financed
Monthly Principal and Interest
Total Monthly Payments
Payment Savings (indicates the best deal)

The calculator can also produce a PDF output file for download, and you can click the check box to view the Schedule Table for the time frame selected. The Schedule Table fields include: Number (of payment month), Interest, Principal, and Balance. It also shows totals for every field after each year of the mortgage.

Input Information
  Loan 1 Loan 2
Amount : ($)
Interest Rate : (%) (%)
Length : (Yrs) (Yrs)
Points : (%) (%)
Origination Fees : (%) (%)
Closing Costs : ($) ($)
 Let Me Print That Form in PDF!

Financial Analysis
  Loan 1 Loan 2
Points Value $2,500.00 $3,750.00
Origination Fees $0.00 $1,250.00
Total Closing Costs $3,700.00 $5,700.00
Amount Financed $250,000.00 $250,000.00
Monthly Principal and Interests : $1,304.12 $1,215.26
Total Monthly Payments : $469,482.60 $437,492.99
Payment Savings : $0.00 $31,989.61

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