Compare Two Loan Offers

Two Loan Estimates, one answer: which costs less over the years you will actually keep the loan. Works for purchase quotes, points vs no points, and refinance vs keeping your current loan.

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Results

Cheaper over your holding period
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A — monthly P&I
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B — monthly P&I
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A — total cost over holding period
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B — total cost over holding period
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Break-even month (B's extra fees recovered)
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A — APR
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B — APR
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LoanSHelper.ai

What this tool does

Lenders quote a rate, a fee total and sometimes points; none of those numbers alone tells you which loan is cheaper. The answer depends on how long you keep the loan. This tool takes two offers and your expected holding period, then adds up everything you actually pay in that window — interest, lender fees, points and monthly mortgage insurance — and shows which one wins and by how much. It also shows the APR of each offer and the month at which the higher-fee offer earns back its extra cost.

Three ways to use it

  • Two lenders. Take the rate, term and Section A lender fees from each Loan Estimate. Leave out third-party costs (appraisal, title) that are the same whoever you choose.
  • Points or no points. Put the no-points quote in A and the quote with points in B (fees = points cost). The break-even month tells you how long you must keep the loan for the points to pay off; if you may sell or refinance sooner, take A.
  • Refinance or keep. Put your current loan in A with fees = 0, the term = years remaining, and the rate you have. Put the refinance quote in B. If B does not win within your holding period, do not refinance — at today's 7.4% average, most borrowers with rates under 7.75% will find exactly that. The Refinancing Guide has the full break-even table.
$400,000, kept 7 yearsOffer A: 7.40%, $2,500 feesOffer B: 7.15%, $8,500 fees
Monthly P&I$2,770$2,702
Interest over 7 years≈$199,000≈$192,000
Total cost over 7 years≈$201,900≈$200,900
Break-even on B's extra $6,000about 89 months — B wins only if you keep the loan longer than that

What it leaves out

Property taxes, homeowners insurance and HOA dues are the same under either loan and are excluded. Cash-out amounts, financed closing costs and the tax deductibility of interest are not modeled. Mortgage insurance is assumed constant for the holding period; if you expect it to cancel earlier, lower the monthly figure. For a rate change on a loan you already hold, use the Rate Shock Calculator; for the fee-adjusted rate of a single offer, the APR Calculator.

Frequently asked questions

Which fees should I enter?Lender-controlled fees only: origination, underwriting, processing, discount points. Appraisal, title and recording are the same regardless of lender, so leave them out when comparing — but include them if you are comparing refinancing against keeping your loan, since keeping costs nothing.
Why does the winner change when I change the holding period?Fees are paid once; a lower rate saves a little every month. The longer you keep the loan, the more a lower-rate, higher-fee offer catches up. The break-even month is where the two lines cross.
Is this the same as comparing APRs?APR assumes you keep the loan to the end of the term. Most people do not. This tool compares cost over the years you actually expect to hold the loan, which is why a higher-APR offer can win over a short horizon.
Can I compare a 15-year against a 30-year?Yes — enter different terms. Note that the 15-year's higher payment is mostly principal, which this tool does not treat as a cost; look at the payment row to make sure you can carry it.

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Disclosures

Representative example: $400,000 kept for 7 years: Offer A at 7.40% with $2,500 in lender fees costs about $201,900 in interest and fees; Offer B at 7.15% with $8,500 in fees costs about $200,900. B's extra $6,000 is recovered in roughly month 89.

Rates shown are national averages or user inputs, not offers. Your rate depends on credit score, down payment, loan type, property, and lender. LoanSHelper.ai provides calculators and educational information only; we are not a lender, broker, or financial advisor. Some links on this page are affiliate links: if you click and complete an application, we may earn a commission at no cost to you. See our Disclaimer.

Offer A's rate field is pre-filled with Freddie Mac's weekly average (PMMS), and the survey week and date are shown under the field. Both offers in the worked example are illustrations with round numbers, not quotes. Cost totals cover principal, interest and lender fees; they exclude property taxes and homeowners insurance (mortgage insurance is a separate input above).