Loan Comparison

Financial Calculators

Calculator

Financial Calculators

1st Source wants to help you make financial decisions that are right for you. That's why we're providing easy-to-use planning calculators to assist you with your financial goals.

Checking Accounts
Savings Accounts
Personal Asset Management
Retirement Planning
Loans
Private Banking
Insurance
Electronic Banking
Services for Seniors
Programs for Youths
Web Resources
Customer Service
Calculators

Back to previous page

Manage Your Finances...

Check your credit online now with EQUIFAX

Save time, money, and the hassle of writing checks with Electronic Bill Payment.

Loan Comparison

This calculator will help you compare the total cost of any two loans. For example, you could consider the benefit of paying extra points to reduce your interest rate, or choosing a fixed instead of a variable rate loan. Simply enter the desired values for each loan and press compute to see the results. The comparison will assume a worst case scenario. For adjustable rate loans, rates will increase the maximum amount each time the loan re-prices, until it reaches the anticipated rate cap.

This analysis includes the effect of a tax deduction for interest. If the interest is not deductible, or if you do not want to show the effect of the tax deduction, choose an income tax rate of zero.

For help with a particular item, click on the "?" next to the item.

Both Loans
Loan amount: $
Your income tax rate: ? %

Loan 1 Loan 2

Down Payment $ $

Number of Payments

Payment Frequency (Months)

Interest Rate % %

Points

Other Fees ? $ $

Fixed or Adjustable ?

  Re-pricing interval (months) ?

  Re-pricing rate adjustment ? % %

  Anticipated rate cap ? % %

Totals:

Loan 1 Loan 2 Difference

Payment Amount $ 658.60 $ 658.60 $ 0.00

Points and Fees $ 0.00 $ 0.00 $ 0.00

Total Payments $ 237,096.49 $ 237,096.49 $ 0.00

After Tax Savings ? $ 198,709.47 $ 198,709.47 $ 0.00

Cost of all payments today discounted at 5% ?

Present Value $ 114,109.11 $ 114,109.11 $ 0.00

Presented by
TimeValue Software

Online financial calculator
for
1st Source Bank

The information provided by these calculators is for illustrative purposes only. The information entered may vary from your actual loan, mortgage, investment, or savings results. Interest rates are hypothetical and are not meant to represent any specific investment. Rates of return will vary over time, particularly for long-term investments. The calculated results are not guaranteed to be accurate and are in no way endorsed, offered or guaranteed by 1st Source Bank.