Loan Comparison Calculator
Use the loan comparison calculator to compare up to three fixed-rate offers by payment, scheduled interest, fees and total repayment.
Free tool · Assumptions shown
Before You Borrow: Loan Checklist
A lower payment can hide a longer, more expensive loan. Compare the whole obligation before you agree.
CompareAPR and total cost
Stress-testpayment at lower income
Keepa copy before signing
How to compare a loan before borrowing
Fix one borrowing scenario
Ask every lender to quote the same principal, term, rate type and timing so the offers can be compared fairly.
Compare APR, fees and total cost
Read rate, APR, payment, upfront charges and total repayment together instead of choosing the smallest monthly payment.
Stress-test the payment
Recalculate with lower income, irregular bills, a higher variable rate and the cash buffer you refuse to spend.
Reconcile the final disclosure
Check the amount financed, rate, term, collateral, prepayment rule and optional products against the offer you selected.
Tools for this decision
Use the final figures from the document in these calculators and checklists, then return to the guide for the clauses the result cannot test.
Extra Loan Payment Calculator
Estimate how a recurring extra principal payment changes payoff time and scheduled interest using the current balance, rate and remaining term.
Free tool · Assumptions shownLoan Fee and Net Proceeds Calculator
Calculate how an origination fee changes usable loan proceeds, the scheduled payment and total repayment on the stated loan amount.
Free tool · Assumptions shownBalloon Payment Calculator
Estimate the balance due on a balloon loan. See what remains when the payment schedule runs longer than the time before payoff.
Free tool · Assumptions shownVariable-Rate Loan Stress-Test Calculator
Use the variable-rate stress calculator to compare today’s estimated payment with a higher-rate scenario on the same balance and remaining term.
Free tool · Assumptions shownCommon questions before this decision
Short answers for the issues that most often change the next document check.
Is the loan with the lowest monthly payment the cheapest?
Not necessarily. A longer term can lower the payment while increasing scheduled interest. Compare APR, fees, total repayment and payment together.
Does APR include every loan cost?
APR combines the interest rate with certain finance charges under disclosure rules, but it may not capture every optional product, late charge or transaction cost. Read the itemized documents too.
How should I test a variable-rate loan?
Record the index, margin, adjustment dates, floors and caps. Model a higher permitted rate against the same balance and the cash margin available in your budget.
Connected decisions to check
Some obligations cross from one document into another. Follow the connection that applies to the same transaction.
Before You Buy a Home: Checklist
Connect mortgage terms with closing cash, property costs and reserves.
Before You Buy a Car: Checklist
Separate the vehicle price from financing, trade equity and optional products.