Finance
Loan Comparison Calculator
Compare payments and totals for two loans.
Free to use — no sign-up or login.
Payment 1
Payment 2
Total 1
Total 2
Total difference
Amortization schedule
| # | Date | Payment | Principal | Extra | Interest | Balance |
|---|---|---|---|---|---|---|
This free Loan Comparison Calculator covers Compare payments and totals for two loans.
Side-by-side amortizing payment totals. Related finance tools sit beside How it works, with no account required.
Using the Loan Comparison Calculator
Compare payments and totals for two loans. Typical inputs are Loan 1 principal, Loan 1 rate %, Loan 1 years and Loan 2 principal. How it works beside the form states the identity the Loan Comparison Calculator applies.
FAQ
How do I use the Loan Comparison Calculator?
Open the Loan Comparison Calculator, fill Loan 1 principal, Loan 1 rate %, Loan 1 years and Loan 2 principal, and read the result. Enter Loan 1 principal, Loan 1 rate %, Loan 1 years, Loan 2 principal, Loan 2 rate %, and Loan 2 years for the Loan Comparison Calculator; enter percentage fields as percentage points and retain the units printed in each label. The calculator reports Payment 1, Payment 2, Total 1, Total 2, and Total difference: Side-by-side amortizing payment totals. The comparison excludes lender fees, insurance, and rate changes unless reflected in the inputs.
What formula does the Loan Comparison Calculator use?
The Loan Comparison Calculator uses the identity in How it works. In words: Enter Loan 1 principal, Loan 1 rate %, Loan 1 years, Loan 2 principal, Loan 2 rate %, and Loan 2 years for the Loan Comparison Calculator; enter percentage fields as percentage points and retain the units printed in each label. The calculator reports Payment 1, Payment 2, Total 1, Total 2, and Total difference: Side-by-side amortizing payment totals. The comparison excludes lender fees, insurance, and rate changes unless reflected in the inputs.
Assumptions and limitations
Finance results are illustrative. They typically omit taxes, fees, prepayment penalties, and product rules, and they are not investment or lending advice.