Loan Comparison Tool
Compare two loan scenarios side-by-side to find the best option for your situation.
Loan Option 1
Loan Amount$320,000
Monthly Payment$2,129
Total Interest$446,428
Cash to Close$88,000
Total Cost$854,428
Loan Option 2
Loan Amount$320,000
Monthly Payment$2,076
Total Interest$427,185
Cash to Close$92,000
Total Cost$839,185
Comparison Summary
Monthly Payment Difference
$53
Option 1 is $53 more
Total Interest Difference
$19,243
Option 1 pays $19,243 more
Total Cost Difference
$15,243
Option 1 costs $15,243 more
✓ Loan Option 2 has the lower total cost
Factors to Consider
Short-Term Considerations:
- • Monthly payment affordability
- • Cash needed to close
- • How long you plan to stay in the home
- • Current cash reserves
Long-Term Considerations:
- • Total interest paid over life of loan
- • Equity building speed
- • Interest rate risk (ARM vs Fixed)
- • Tax implications