Mortgage Estimates

Comparison Calculator

Comparison inputs

Scenario A
Scenario B

Side-by-side

Scenario A

Monthly P&I
$—
Total Interest
$—
Total Paid (loan)
$—

Scenario B

Monthly P&I
$—
Total Interest
$—
Total Paid (loan)
$—

Monthly Difference (B minus A)

$—

Interest difference over life of loan

Compares principal and interest only. Fees, PMI, escrow, and tax impacts are excluded.

How the Home Loan Comparison Calculator Works

This side-by-side mortgage comparison tool helps you judge two financing scenarios without juggling spreadsheets. Whether you are weighing different rate quotes, deciding between a shorter term and a longer one, or comparing balances after a price change, the calculator keeps the math consistent so you can focus on trade-offs.

Fill in Scenario A and Scenario B with each option’s loan amount, annual interest rate, and fixed term. Press Compare Scenarios to generate monthly principal and interest, total interest cost, and total repaid on the loan for each column, along with the monthly payment difference and interest gap over the life of the loans.

For each scenario you will enter:

  • Loan amount to be repaid
  • Annual interest rate
  • Loan term in years

Because the comparison isolates P&I, it is ideal for apples-to-apples quotes from lenders. Add taxes, insurance, and mortgage insurance separately when you are ready to compare all-in housing payments or cash-to-close; those pieces vary by property and location.

Frequently asked questions

What does “monthly difference (B minus A)” mean?

It is Scenario B’s monthly principal and interest minus Scenario A’s. A positive value means B costs more per month; negative means B is cheaper on P&I alone.

Can I compare different loan terms—for example 15 years vs. 30?

Yes. Put the shorter term in one scenario and the longer term in the other. Watch both monthly payment and total interest, since shorter terms usually raise the payment but cut total interest.

Why are taxes, PMI, and insurance excluded?

Those costs depend on the property and location, not just rate and term. Keeping the tool to P&I lets you compare loan offers on equal footing before layering housing costs back in.

How should I read the interest difference over the life of the loan?

The line below the monthly delta reports total interest for Scenario B minus Scenario A over the full term of each loan. Positive means B costs more interest in total; negative means B costs less—same convention as the payment difference.

What if the loan amounts are not the same between A and B?

You can enter different balances when comparing, for example, a smaller loan after a larger down payment vs. a higher loan amount. Just remember the comparison is still principal-and-interest only.