Enter up to 3 loan offers and see them side by side — monthly payment, total interest, and true cost. We'll highlight the best deal automatically.
Enter the loan amount, interest rate, term in months, and any origination fees for up to three loan offers. The tool calculates the monthly payment, total interest, and true total cost for each loan, then highlights the best deal automatically based on total cost including fees.
A longer loan term means a lower monthly payment, but you'll pay far more interest over time. A loan with a 5-year term at 7% costs significantly more than the same loan at a 3-year term — even though the monthly payments are lower. Always compare total cost, not just what comes out of your pocket each month.
Many lenders charge origination fees of 1–8% of the loan amount. On a $20,000 loan, a 3% fee adds $600 upfront. This can make a "lower rate" loan actually cost more than a higher-rate loan with no fees. Our tool adds fees to the total cost calculation so you get a true comparison.
This tool works for personal loans, auto loans, student loans, and any installment loan with a fixed rate and term. For mortgage comparisons, use our dedicated Mortgage Calculator which handles property taxes, insurance, and PMI.