How to use this page
- Tap “Add a loan” and enter the amount, rate and term from the lender’s offer.
- Or press “Save to compare loans” on any loan calculator.
- Drag two loans into Loan A and Loan B — on a phone, tap A or B on a loan.
Frequently asked questions
How do I compare two loans?
Look at the total cost — interest plus the origination fee — and the APR, not just the monthly payment. In the example, 11% for 36 months costs $3,279 in all; 9.5% for 48 months costs $3,989, even though its monthly payment is lower.
Why isn’t a lower monthly payment always cheaper?
A lower payment usually comes from a longer term, so you pay interest for more months. A lower rate with a high origination fee can also cost more than it looks.
What is the APR?
The yearly cost once fees are counted. For the example loans it is 13.85% and 12.8%, against interest rates of 11% and 9.5%. Lenders must show the APR in their Truth in Lending disclosure.
Where are my loans saved?
Only in this browser, on this device. Nothing is sent to us. Use “Copy link” to share the two loans you are comparing.