Mortgage Comparison Calculator
Compare mortgage options, calculate monthly payments, total interest, and amortization schedules. Find the best loan terms for your budget and financial goals.
Step 1: First Mortgage Details
20%
Standard Mortgage Terms
Typical mortgage terms: 15-30 years. Down payments: 5-20%. Fixed rates offer stability, variable rates may start lower but can fluctuate.
Step 2: Comparison Mortgage
15%
Mortgage Comparison Tips
Compare total cost (principal + interest) over the loan term. Consider closing costs, PMI for down payments under 20%, and your long-term financial goals.
Mortgage Comparison Results
Summary
Amortization
Detailed Comparison
Monthly Payment Difference
£312
Mortgage 2 saves £11,232 over 15 years
Monthly Payment (Mortgage 1)
£1,123
Monthly Payment (Mortgage 2)
£1,435
Total Interest (Mortgage 1)
£154,220
Total Interest (Mortgage 2)
£108,300
Amortization Schedule (First 5 Years)
| Year | Principal Paid | Interest Paid | Remaining Balance | Equity Built |
|---|
5-Year Interest (Mortgage 1)
£41,220
5-Year Interest (Mortgage 2)
£58,300
5-Year Equity (Mortgage 1)
£26,450
5-Year Equity (Mortgage 2)
£38,720
Detailed Mortgage Comparison
| Factor | Mortgage 1 | Mortgage 2 | Difference |
|---|
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