Mortgage Comparison Calculator
Compare two mortgage options side by side — different rates and terms — to see the monthly payment for each and how much total interest you'd pay or save over the life of the loan.
Your details
- Option A payment
- $1,896.20
- Option B payment
- $2,531.57
- Monthly difference (B − A)
- $635.37
Lifetime interest: A vs B
- Option A total interest
- $382,633.4771%
- Option B total interest
- $155,682.6929%
Formula
Each option's payment amortizes the loan at its rate over its term. Total interest = payment × months − loan. The comparison shows the monthly difference and the lifetime interest saved by the cheaper option.
How it works
A shorter term or lower rate raises the monthly payment but can slash total interest — a 15-year loan often saves six figures over a 30-year one. This weighs the higher payment against the long-run savings.
Frequently asked questions
Is a 15-year or 30-year mortgage better?⌄
A 15-year loan has higher payments but far less total interest and builds equity faster. A 30-year loan costs more overall but keeps monthly payments lower and more flexible.
Should I always pick the lowest rate?⌄
Lower is generally better, but also weigh the term, closing costs, and points. This tool compares payment and lifetime interest; factor fees in separately.
Does a lower payment mean a cheaper loan?⌄
Not necessarily — a longer term lowers the payment but usually increases total interest. Compare the lifetime cost, not just the monthly figure.
Sources & methodology
Compares principal & interest and lifetime interest for two options. Excludes taxes, insurance, points, and fees.
Embed this calculator⌄
Paste this into your page — it works with no key and computes in the visitor's browser.
<iframe src="https://numveo.com/embed/mortgage-comparison-calculator" width="100%" height="640" style="border:0" loading="lazy" title="Mortgage Comparison Calculator"></iframe>