Mortgage Comparison Calculator 2026: Compare Two Loan Offers Side by Side
Compare two mortgage offers side by side — monthly payment, total interest, closing costs, and the break-even point that tells you which loan is truly cheaper.
ALoan A
BLoan B
Side-by-Side Comparison
Break-even = months until Loan B's lower payment recoups its higher closing costs. Stay past this point and the lower-rate loan wins.
Get Real Offers to Compare
Run the numbers with actual rate quotes — get matched with multiple lenders and compare real terms side by side.
Compare Real Rates NowHow to Read a Mortgage Comparison
Lenders quote rates, but rates alone don't tell you which loan is cheaper. The two numbers that matter are your monthly payment and your total cost, which includes interest plus closing costs. A loan with a slightly higher rate but much lower fees can be the smarter choice if you plan to move within a few years — while a lower-rate loan with big upfront fees wins for long-term homeowners.
The Break-Even Rule
- Short stay (under break-even): choose the loan with lower closing costs
- Long stay (past break-even): choose the loan with the lower monthly payment
- Compare APRs: they include fees, so they're better than raw rates for apples-to-apples
- Same terms only: 15-year vs 30-year comparisons change the math entirely
- Re-run with real quotes: use the lender offers you actually receive
Mortgage Comparison Calculator FAQ
What is the break-even point when comparing two mortgages?+
The break-even point is how many months it takes for the loan with lower monthly payments to save enough money to offset its higher closing costs. For example, if Loan B has $3,000 more in closing costs but saves $100 per month, you break even at 30 months. If you plan to stay in the home past that point, Loan B is the better deal.
Why should I compare closing costs along with interest rates?+
A lower interest rate often comes with higher closing costs (points and fees). Comparing monthly payment alone ignores this tradeoff. Adding closing costs to the comparison shows the true total cost of each loan and reveals when the lower-rate option actually starts saving you money.
How much does a 0.5% lower interest rate save on a mortgage?+
On a $300,000, 30-year fixed mortgage, a 0.5% rate reduction (e.g., from 6.5% to 6.0%) lowers the monthly payment by roughly $100 and saves about $35,000 in total interest over the life of the loan. The exact savings depend on your loan amount and term — use the comparison tool above to see precise numbers.
Should I compare loans with different terms, like 15-year vs 30-year?+
Yes — comparing a 15-year and 30-year loan is one of the most useful comparisons you can run. The 15-year loan has a much higher monthly payment but dramatically lower total interest. Enter both options in Loans A and B, and the calculator will show the monthly difference, total interest, and which option costs less overall.
What else should I consider beyond the numbers in a loan comparison?+
Compare APRs (which include fees) rather than just the interest rate, check whether the rate is locked and for how long, look at prepayment penalties, and consider how long you plan to stay in the home. Your break-even horizon is the single most important number: the longer you stay, the more a lower-rate, higher-fee loan pays off.