Enter your loan amount, loan term, and a range of interest rates to generate a comparison table showing monthly payment, total payment, and total interest across multiple rates. Perfect for comparing mortgage or loan costs side by side before committing to a rate.
Monthly Payment (Mid Rate)
--
Total Payment (Mid Rate)
--
Total Interest (Mid Rate)
--
Rate Scenarios Generated
--
An interest rate comparison table shows you how your monthly payment, total payment, and total interest change as the interest rate varies. It lets you see the cost difference between a range of rates side by side, which is especially useful when shopping for a mortgage or loan.
The monthly payment is calculated using the standard amortization formula: M = P × [r(1+r)^n] / [(1+r)^n − 1], where P is the principal, r is the monthly interest rate (annual rate ÷ 12), and n is the total number of monthly payments.
Amortization is the process of paying off a loan through regular scheduled payments over time. Each payment covers both interest and a portion of the principal, with the interest share decreasing and the principal share increasing over the life of the loan.
On a $200,000 30-year loan, a 1% increase in rate adds roughly $115–$130 per month to your payment and tens of thousands of dollars in total interest over the life of the loan. The table generated by this tool shows you the exact impact for your specific loan amount and term.
Yes. The calculator works for any fixed-rate amortizing loan — mortgages, auto loans, personal loans, student loans, and more. Simply enter your loan amount, term, and the rate range you want to compare.
Total interest is the sum of all interest payments made over the full life of the loan. It equals the total of all your payments minus the original loan amount (principal). A higher interest rate results in significantly more total interest paid.
The rate increment determines how finely the table steps between your starting and ending rates. A 0.25% or 0.5% increment is typical for mortgage shopping. A smaller increment produces more rows for a detailed comparison; a larger increment gives a broader overview.
With bi-weekly payments you make 26 half-payments per year, which equals 13 full monthly payments instead of 12. This extra payment each year reduces your principal faster, shortening your loan term and saving you a significant amount in total interest.