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Fixed Payment Loan Comparison Calculator for Comparing Up to Four Loans

Calculator Preferences
Fixed Payment Loan Comparison Calculator Sign
Fixed Payment Loan Comparison Calculator

This calculator will calculate and compare the payment, total of all payments, and interest cost for up to four different loans that have varying principal, interest rates, and/or number of payments. Results include a side-by-side comparison chart, an interest cost bar-chart, and a button for creating a printer friendly report. The Learn tab defines and explains the 6 factors that influence the total interest cost of a loan.

Learn More

Selected Data Record:

A Data Record is a set of calculator entries that are stored in your web browser's Local Storage. If a Data Record is currently selected in the "Data" tab, this line will list the name you gave to that data record. If no data record is selected, or you have no entries stored for this calculator, the line will display "None".

DataData recordData recordSelected data record: None
Frequency:Payment frequency:Fixed payment frequency:Fixed payment frequency:

Fixed payment frequency:

Select the payment frequency you would like to use for the comparison.

Loans to Compare

Loans to Compare:

For each loan you would like to compare, enter the following:

Principal: Dollar amount without dollar sign or any commas.

Rate: Interest rate without the percent sign (for .06 or 6%, enter 6).

# Pmts: Number of payments that corresponds to the selected payment frequency.

Once you have all loans and terms entered, tap the Calculate Loan Comparison button.

#PrincipalRate# Pmts
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Comparative Results

Comparative Results:

The chart below will compare the payment amount, total of all payments, and the interest cost for all loans entered in the section above this one.

Tap the Terms option to view the entered terms for each loan. Tap the Results option to change the chart back to the results.

#PaymentTotalInterest
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If you would like to save the current entries to the secure database, tap or click on the Data tab, select "New Data Record", give the data record a name, then tap or click the Save button. To save changes to previously saved entries, simply tap the Save button. Please select and "Clear" any data records you no longer need.

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Help and Tools

Help and Tools:

This section, which you can Unstick or Hide in the Calculator Preferences (just above the top of the calculator), contains the following tabs (content too long to fit within bordered frame can be scrolled up and down):

About: Click this tab for an introduction to the calculator.

Instructions: Click this tab for step-by-step instructions for using the calculator.

Terms: Click this tab for a list of the descriptions that are located within each popup help button (info icons).

PCalc: Click this tab for a handy "pocket" calculator you can use when you need to calculate an entry needed for the calculator.

Data: Click this tab to save a set of entries or a note in between visits. Entries and notes will be stored to your web browser's local storage (if supported by your browser of choice), meaning they can only be recalled with the same device and web browser you were using when you saved them. If you'd like to save entries and notes between devices you can do so by subscribing to the Ad-Free Member Version.

 

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Adjust Calculator Width:

Move the slider to left and right to adjust the calculator width. Note that the Help and Tools panel will be hidden when the calculator is too wide to fit both on the screen. Moving the slider to the left will bring the instructions and tools panel back into view.

Also note that some calculators will reformat to accommodate the screen size as you make the calculator wider or narrower. If the calculator is narrow, columns of entry rows will be converted to a vertical entry form, whereas a wider calculator will display columns of entry rows, and the entry fields will be smaller in size ... since they will not need to be "thumb friendly".

Show/Hide Popup Keypads:

Select Show or Hide to show or hide the popup keypad icons located next to numeric entry fields. These are generally only needed for mobile devices that don't have decimal points in their numeric keypads. So if you are on a desktop, you may find the calculator to be more user-friendly and less cluttered without them.

Stick/Unstick Tools:

Select Stick or Unstick to stick or unstick the help and tools panel. Selecting "Stick" will keep the panel in view while scrolling the calculator vertically. If you find that annoying, select "Unstick" to keep the panel in a stationary position.

If the tools panel becomes "Unstuck" on its own, try clicking "Unstick" and then "Stick" to re-stick the panel.