Comparing Loans Calculator

It can be very handy to compare your options when it comes to borrowing. You can use this simple calculator to compare your options.

Analyzing Different Options
Loan Options	Option 1	Option 2	Option 3
Loan amounts
Length of loan in months	36 48 60 72 84	36 48 60 72 84	36 48 60 72 84
Interest rate	%	%	%
Loan amount
Monthly payment
Total payments
Total interest

Understanding your borrowing options

You may be faced with a number of options when you consider borrowing money. Shorter terms may result in lower interest rates, but higher monthly payments. A fixed rate loan may have a lower rate at inception, but carries the risk that your payments will rise if interest rates rise. Use this calculator to evaluate your options and make the decision that is best for your situation.