Mortgage Comparison Calculator
Compare up to three mortgages side by side. See payments, points, fees, tax savings and the present value of each loan to find the lowest-cost option for the time you plan to stay.
Mortgage Comparison Calculator
Which mortgage is better for me? Compare the total cost of up to three loans.
Set the income tax rate to 0 to ignore tax effects.
Loans
Down payment unit
Loan type
Best option for 7 years
15-yr fixed has the lowest overall cost, about $8,716 less than 30-yr fixed.
Based on the present value of each loan over the time you plan to stay.
| 30-yr fixed | 15-yr fixedBest | 5/1 ARM | |
|---|---|---|---|
| Loan amount* | $320,000 | $320,000 | $360,000 |
| Points and fees* | $1,200 | $2,800 | $900 |
| Payment | $2,022.62monthly | $2,678.78monthly | $2,253.14monthly |
| Principal and interest** | $2,022.62 | $2,678.78 | $2,100.86 |
| Private mortgage insurance** | None | None | $152.28 |
| Total of payments | $459,232 | $429,807 | $514,372 |
| Tax savings | $33,416 | $26,738 | $37,049 |
| Final payment | $291,355 | $207,468 | $327,913 |
| Present value of loan | $418,777 | $410,061 | $429,583 |
30-yr fixed
Loan amount*$320,000
Points and fees*$1,200
Payment$2,022.62monthly
Principal and interest**$2,022.62
Private mortgage insurance**None
Total of payments$459,232
Tax savings$33,416
Final payment$291,355
Present value of loan$418,777
15-yr fixed
Loan amount*$320,000
Points and fees*$2,800
Payment$2,678.78monthly
Principal and interest**$2,678.78
Private mortgage insurance**None
Total of payments$429,807
Tax savings$26,738
Final payment$207,468
Present value of loan$410,061
5/1 ARM
Loan amount*$360,000
Points and fees*$900
Payment$2,253.14monthly
Principal and interest**$2,100.86
Private mortgage insurance**$152.28
Total of payments$514,372
Tax savings$37,049
Final payment$327,913
Present value of loan$429,583
* Included in APR. ** Included in payment.
Total cost over 7 years
- Down payment, points & fees
- Payments
- Final payment (payoff)
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