Which loan quote costs less over the time you expect to keep it?
Compare personal loans, mortgages, home-equity choices or vehicle financing. Use the same cash need and comparison date. Enter actual terms or try a clearly labeled example.
Today
Cash received
Each month
Payment and charges
Comparison date
Cost and debt left
Compare the costs in your loan quotes
Use the contractual interest rate for payments. APR is a separate disclosure that can include fees. Blank charges remain unknown; enter $0 only when confirmed.
Payments are monthly and rounded to cents. The final payment clears the balance. Rates stay constant; HELOCs can change rates or require different draw payments. No additional draws are modeled.
The estimated yearly rate uses net cash, entered fees and scheduled payments over the full term. It does not verify or replace your lender's APR disclosure. The cost at your chosen date is a separate calculation.
Property tax, home insurance, tax deductions, appreciation and unknown charges are excluded. Vehicle operating costs and resale use only your entries. Property equity is value minus modeled debt.
Inputs stay in this form. They are not saved, put in links or sent to analytics. Changing an input clears the previous comparison.
CFPB: interest rate and APRWhat the comparison counts
Scheduled interest, entered fees and monthly loan charges are counted through your chosen date. Remaining principal is reported separately. Paying principal reduces debt; it is not counted again as a borrowing fee.
Home-equity comparisons include the first mortgage that stays or gets replaced. Vehicle ownership adds purchase taxes, dealer fees and entered operating costs, then subtracts estimated resale value. Rates stay constant and property values do not grow automatically.
Questions about comparing quotes
Why can a lower monthly payment cost more?
A longer term can leave more debt at your comparison date. This tool counts interest and entered fees while retaining the debt still owed, rather than ranking by payment alone.
Should I enter interest rate or APR?
Enter the contractual interest rate for the payment schedule. You can record disclosed APR separately. The modeled annual borrowing rate uses entered fees and monthly cash flows; it does not verify or replace the lender's APR disclosure.
What happens when a fee is withheld from the loan?
Withheld fees reduce cash received. A quote that does not supply the same usable cash is not ranked. Use the actual quoted amount; the tool does not assume the lender will approve a larger loan.
How does cash-out refinancing differ from a second loan?
Cash-out refinancing pays off and replaces the first mortgage. The comparison includes that change in interest and fees. A second loan keeps the first mortgage schedule and debt in place.