Loan Comparison Calculator


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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.

Field Help

Input Fields

TitleA title for these calculator results that will help you identify it if you have printed out several versions of the calculator.

LenderThe name of your potential lender. This field is not required but may help if you have printed out several loan scenarios.

Loan AmountThe amount you plan to borrow.

Interest RateThe annual percentage rate you will pay for this loan.

Length of LoanHow long you will pay on this loan. Also choose whether 'Length of Loan' is years or months.

Additional PrincipalThe additional amount you will pay each month (over the required 'Monthly Payment' amount) to pay down the principal on your loan.

Output Fields

Monthly PaymentPrincipal + Interest + Additional Principal (where applicable) to be paid each month.

Total InterestTotal amount of interest you will pay over 'Length of Loan'.

Total PaidTotal amount of principal + interest you will pay over 'Length of Loan'.

Payoff TimeAmount of time until the loan is paid off.

Interesting facts

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Popular Q&A

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What performs calculations and comparisons?

Most calculators do comparisons and calculations, though it matters what type of computer you have . You can also search the web for a good site that does that.