Lender Comparison Calculator
Compare mortgage lenders side-by-side to find the best deal. Compare interest rates, fees, monthly payments, and total loan costs based on your loan requirements.
Step 1: Loan Details
Understanding Loan Terms
Shorter loan terms typically have lower interest rates but higher monthly payments. Longer terms have lower monthly payments but you pay more interest over the life of the loan.
Step 2: Compare Lenders
Lender 1
Lender 2
About Lender Fees
Lender fees may include origination fees, points, appraisal fees, and other closing costs. Be sure to compare both interest rates and fees when evaluating lenders.
Lender Comparison Results
Best Value: Lowest Total Cost
Lender Comparison Table
| Lender | Interest Rate | Monthly Payment | Total Fees | Total Interest | Total Cost |
|---|
Cost Breakdown Over Loan Term
Mortgage Calculation Formula
Monthly Payment = P × [r(1+r)^n] / [(1+r)^n – 1]
Where P is the principal loan amount, r is the monthly interest rate (annual rate ÷ 12), and n is the number of monthly payments (years × 12). Total cost includes principal, interest, and lender fees.
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