Loan Comparison Calculator

The principal of the first offer. Enter both offers as actually quoted — they need not be identical to be compared.

Offer A’s nominal annual rate in percent. It drives the monthly payment and the interest total.

Offer A’s repayment term. A longer term lowers the payment but usually raises the lifetime cost.

One-time costs of taking offer A — origination, arrangement or closing fees. They are added to the total cost and folded into the effective APR.

The principal of the second offer, as quoted by that lender.

Offer B’s nominal annual rate in percent. A lower rate does not guarantee a cheaper loan once fees and term differ.

Offer B’s repayment term — a longer term can hide a higher total cost behind a smaller payment.

One-time costs of taking offer B, counted into its total cost and effective APR just like offer A’s fees.