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)		Daily Weekly Bi-Weekly Monthly Bi-Monthly Quarterly Semi-Annual Annual		Daily Weekly Bi-Weekly Monthly Bi-Monthly Quarterly Semi-Annual Annual
Interest Rate		%		%
Points
Other Fees ?	$		$
Fixed or Adjustable ?		Adjustable Fixed		Adjustable Fixed
Re-pricing interval (months) ?
Re-pricing rate adjustment ?		%		%
Anticipated rate cap ?		%		%