Mortgage Comparison Calculator

Two Loan Estimates on the table and the 'better' one is not obvious — one has a lower rate, the other lower fees. This tool totals everything up and declares a winner on true cost.

1 · Afford2 · Payment3 · Schedule4 · Pay off early5 · Closing costs6 · PMI7 · Refinance8 · Rates guide
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1 point = 1% of the loan, paid at closing.
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Results update as you type. Nothing is uploaded or stored.

Why the lowest rate is not always the cheapest loan

Lenders move money between the rate and the fees. Offer B above charges a point ($3,500) to buy the rate down to 6.25%. Whether that trade wins depends on how long you keep the loan: over a full 30 years the lower rate usually prevails, but sell or refinance in year five and the upfront cost may never be recovered. Total-cost comparison — payment × months + all upfront charges — is the only fair scoreboard.

How to compare Loan Estimates properly

  1. Same day, same loan. Rates move daily; request all quotes on one morning for the same price, down payment and term.
  2. Section A + B + points. Origination charges and lender-required services are the lender's real price; taxes and government fees are identical everywhere.
  3. Check the APR too — it folds fees into a single rate. Our APR calculator shows how it is derived.
  4. Ask about lock terms — a cheaper quote with a 15-day lock you cannot meet is not cheaper.

Deciding between terms rather than lenders? Use the 15 vs 30 year calculator. Wondering whether points are worth it on a single offer? The points calculator finds the exact break-even month. And for the human side of choosing — brokers vs banks vs credit unions — read how to compare mortgage lenders.

Your next steps

Deep dive

Are points worth it?

Find the exact month a rate buydown starts paying you back.

One number

Compare by APR

Fold fees into a single rate for a quick ranking.

Learn

Choosing a lender

Banks, brokers, credit unions — who does what, and what to ask.

Related calculators

Mortgage Payment Calculator

Your true monthly payment with taxes, insurance & PMI.

Home Affordability Calculator

How much house your income can really carry.

Mortgage APR Calculator

Fees and points converted into a true APR.

Mortgage Points Calculator

Do points pay? Find your break-even month.

Frequently asked questions

How do I compare two mortgage offers fairly?
Use Loan Estimates issued the same day for the identical loan. Compare the interest rate, points and Section A/B lender charges together — total cost over the time you expect to keep the loan — not the rate alone.
What is the difference between rate and APR?
The rate prices your monthly payment. APR adds upfront fees and points spread over the term, so it is higher and better for comparisons. Our APR calculator shows the derivation for any offer.
Are points ever worth paying?
If you keep the loan beyond the break-even point — points cost divided by monthly savings — yes. For most buyers who move within 7–10 years, zero-point offers win. The points calculator gives your exact break-even.
How many lenders should I compare?
Research consistently finds that getting just one extra quote saves thousands over the loan's life, and five quotes save more. Three same-day Loan Estimates is a practical minimum, and rate shopping within a 14–45 day window counts as one credit inquiry.
Why do fees differ so much between lenders?
Some lenders price profit into the rate, others into fees, and third-party costs (appraisal, title) vary by region. Government charges and taxes are the same everywhere — if one estimate shows them far lower, it is likely under-disclosed, not cheaper.

Sources & further reading

Official sources for program rules and consumer rights. Zorvex is not affiliated with these agencies; figures here are estimates for education.