Loan Amount
$300K
Compare Loan Options
Compare two loan options side by side for US borrowers. Review total cost, monthly payment pressure, prepayment charges, and rate risk before choosing a plan.
Focus on real costFee breakdownCash-flow comparison
Recommended
Scenario B
Cost gap
$16.6K
3.99%
Total cost A
$3.46K
Total cost B
$4.13K
Scenario A
Tap a loan structure to switch Option A.
Start with the 3 core fields: loan amount, annual rate, and term. Then refine income and intro-rate settings for a more realistic view.
This is the base rate when no intro-rate model is enabled.
Estimated real cost
Include these charges when comparing the two loan setups fairly.
Scenario A
Loan Summary
Quick summary of the most important loan metrics before you move into detailed analysis.
Total Interest
~ $115.2K
Total Payment
~ $415.2K
Monthly Payment
~ $3.46K/mo
Scenario BCurrently favored
Using different structures for A and B usually makes the tradeoffs easier to see.
Start with the 3 core fields: loan amount, annual rate, and term. Then refine income and intro-rate settings for a more realistic view.
This is the base rate when no intro-rate model is enabled.
Estimated real cost
Include these charges when comparing the two loan setups fairly.
Scenario B
Loan Summary
Quick summary of the most important loan metrics before you move into detailed analysis.
Best fit
Loan Amount
$300K
Total Interest
~ $98.6K
Total Payment
~ $398.6K
Monthly Payment
~ $3.32K/mo
Rate Risk Stress Test
Use this to see which option still holds up better if rates rise.
- If an intro period exists, only the post-intro rate is increased.
- If there is no intro period, the current rate is increased directly.
- This is an estimate for planning purposes.
Quick read: the option whose cost rises faster is more sensitive to rate volatility.
Real cost formula - Option A
Total scheduled payments: $415.2K
Origination fees: $150
Loan-related insurance: $800
Prepayment penalty: $0
Formula: $415.2K + $950 = $416.2K
Real cost = total scheduled payments + one-time fees and add-on charges.
Estimated real cost: $416.2K
Real cost formula - Option B
Total scheduled payments: $398.6K
Origination fees: $150
Loan-related insurance: $800
Prepayment penalty: $0
Formula: $398.6K + $950 = $399.6K
Real cost = total scheduled payments + one-time fees and add-on charges.
Estimated real cost: $399.6K
Lower estimated real cost
Scenario B
Real-cost gap
~ $16.6K
Gap in scheduled payments
~ $16.6K
Compare the details before deciding
Total interest gap
~ $16.6K
First payment for A
$3.46K
First payment for B
$4.13K
Quick tip: if the total-cost gap is small but the first-payment gap is large, prioritize the option that fits monthly cash flow better.
Cash-flow analysis
Balance and Principal-Interest Structure
Track the remaining balance, principal share, and interest share by year to see how loan pressure changes over time.
Detailed Repayment Schedule by Option
Choose an option to review the full repayment schedule.
Compare by term
See how different terms change payment pressure and total cost.
Financial guidance
Choose an option to see the deeper analysis.
National Market Index Data
Loan Rates by Lender
Compare introductory and standard rates to evaluate the true borrowing cost more accurately.
Updated
| Lender | Intro Rate | Standard Rate (Est.) | Term | Notes | |
|---|---|---|---|---|---|
| 6.30% | 6.52% | 10 - 30 years | Specializes in first-time home buyer programs with low down payments. | Calculate | |
| 6.30% | 6.50% | 8 - 30 years | Fully online application process with highly customizable terms. | Calculate | |
| 6.35% | 6.55% | 15 - 30 years | Competitive fixed rates for 30-year mortgages. | Calculate | |
| 6.35% | 6.60% | 15 - 30 years | Relationship pricing discounts available for existing banking customers. | Calculate | |
| 6.40% | 6.70% | 10 - 30 years | Offers great combination of low rates and digital mortgage experience. | Calculate | |
| 6.55% | 6.85% | 15 - 30 years | Strong presence in mortgage lending across all states. | Calculate |
Rates are for reference only. Actual borrowing cost depends on your credit profile and each lender's policy.
Quick Picks
Popular Scenarios
Browse loan amounts and terms that users frequently explore.
$50K
5 yr/mo
~ $979
6.52%/Year
First Month
~ $979
Total Interest
~ $8.73K
View details
$100K
10 yr/mo
~ $1.14K
6.52%/Year
First Month
~ $1.14K
Total Interest
~ $36.4K
View details
$300K
30 yr/mo
~ $1.9K
6.52%/Year
First Month
~ $1.9K
Total Interest
~ $384.1K
View details
$400K
30 yr/mo
~ $2.53K
6.52%/Year
First Month
~ $2.53K
Total Interest
~ $512.1K
View details
$500K
30 yr/mo
~ $3.17K
6.52%/Year
First Month
~ $3.17K
Total Interest
~ $640.1K
View details
Frequently Asked Questions
Quick answers to common questions about loan calculations and repayment scenarios.
A lower monthly payment (often achieved via a longer term) might look attractive but results in significantly higher Total Interest paid over time. Comparing the 'Total Cost' helps you see the long-term impact on your wealth.
Still not seeing the answer you need?
Ask usHow-to guide summary
How to use the loan calculator
Enter the loan amount, annual interest rate, and term in years. The calculator instantly produces the monthly payment, an amortization schedule, total interest, and an income affordability check. Use the advanced mode to model promotional rates, grace periods, or floating-rate scenarios.
What the calculator covers
- Standard reducing-balance and annuity methods for most loan types.
- Optional promotional-rate and grace-period modeling in advanced mode.
- Debt-to-income check against a 40% safe-DTI threshold.
- Bank rate references are indicative and subject to change.
Step-by-step guide
- Step 1 — Enter loan amount, annual interest rate, and term in years.
- Step 2 — Review the loan summary: first payment, total interest, and total repayment.
- Step 3 — Read the amortization chart and month-by-month schedule.
- Step 4 — Check the income buffer and rate stress-test sections.
- Step 5 — Use the comparison tool to evaluate alternative terms or structures.
Accuracy note
- Results are educational estimates. They do not include lender fees, insurance, taxes, or promotional adjustments unless modeled explicitly.
- Always confirm final terms with your lender before committing.