Help me compare loans with different terms.
Compare up to 4 loans side by side with this calculator. Enter the loan amount, interest rate, and term of each loan and this calculator will show you the payment amount, the total interest you will pay, and the actual cost for each loan. You can also enter any additional principal amount you intend to pay each month and the calculator will show you each loan’s anticipated payoff time.
Title: A title for these calculator results that will help you identify it if you have printed out several versions of the calculator.
Lender: The name of your potential lender. This field is not required but may help if you have printed out several loan scenarios.
Loan Amount: The amount you plan to borrow.
Interest Rate: The annual percentage rate you will pay for this loan.
Length of Loan: How long you will pay on this loan. Also choose whether ‘Length of Loan’ is years or months.
Additional Principal: The additional amount you will pay each month (over the required ‘Monthly Payment’ amount) to pay down the principal on your loan.
Monthly Payment: Principal + Interest + Additional Principal (where applicable) to be paid each month.
Total Interest: Total amount of interest you will pay over ‘Length of Loan’.
Total Paid: Total amount of principal + interest you will pay over ‘Length of Loan’.
Payoff Time: Amount of time until the loan is paid off.
Number of Payments: The number of payments you will make to pay off the loan.
Annual Cost: The amount of money you will pay each year for this loan.
1 thought on “Loan Comparison Calculator”
I haven’t find online the right loan comparator so I created one here https://manestate.com/index.php?id=refi It allows me to compare my current loan with a new one. It takes into account the past payment of the current loan. This is basically the information I need to know for refinancing.