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Property calculators

Mortgage Comparison Calculator

Compare two mortgage scenarios side by side using the loan amount, rate, term, fees and comparison period you choose.

Shared comparison assumptions

Loan amount, comparison period and payment frequency used for both scenarios.

$
years

Result updated. Estimated cost difference $9,033.

Result summary

Cost difference

Scenario comparison from the loan assumptions entered.

Scenario B lower

$9,033

Scenario B has the lower estimated cost under these assumptions.

Key numbers

Scenario A payment
$2,528
Scenario B payment
$2,373

Key takeaway

Option B is estimated to cost $9,033 less over 5 years under the assumptions entered.

Scenario A

Rate, term, fees and optional extra payment.

%
years
$
$

Scenario B

Rate, term, fees and optional extra payment.

%
years
$
$
Region and currencyChanges defaults and currency formatting only.

Region settings change defaults, labels, units and formatting only. They do not convert currencies or provide tax advice. US defaults use USD formatting.

Side-by-side comparison

Payments, estimated total cost and cost difference.

Option A payment
$2,528
Option B payment
$2,373
Option A total cost
$526,140
Option B total cost
$517,107
Estimated difference
$9,033

Comparison metrics

Payment difference, break-even and remaining balances.

Payment difference
-$156

Scenario B minus Scenario A.

Break-even
1 year, 8 months
Option A balance
$374,444
Option B balance
$371,754
Yearly comparisonEstimated cost difference by year.
Year 1$425,868 for Scenario A and $426,466 for Scenario B.
$598 difference
Year 2$451,437 for Scenario A and $449,629 for Scenario B.
-$1,808 difference
Year 3$476,687 for Scenario A and $472,470 for Scenario B.
-$4,217 difference
Year 4$501,595 for Scenario A and $494,969 for Scenario B.
-$6,626 difference
Year 5$526,140 for Scenario A and $517,107 for Scenario B.
-$9,033 difference

Warnings to note

  • One or both scenarios have upfront fees set to 0. Fees can change the comparison.
  • Rates are assumed to stay fixed for the comparison period.
  • This is a general estimate, not mortgage advice, lending advice or a product recommendation.

Save or share this result

Copy a plain-English summary or download a CSV with the inputs, results, warnings and general-estimate note.

Exports are generated in your browser. NoNoiseTools does not need to store your numbers or require an account.

General estimate only

This calculator provides general estimates only. It is not financial, tax, legal, accounting, mortgage or lending advice. It assumes fixed rates and excludes lender eligibility, break fees, offset/redraw features, taxes and local product rules.

How this mortgage comparison calculator works

The calculator builds two amortization estimates using the same loan amount and comparison period. It then compares estimated payment, interest, fees, remaining balance and total cost.

Rate, term and fee tradeoffs

A lower rate can reduce payments and interest, but upfront fees can change the result. A longer term can lower the payment while leaving a higher balance or more interest over time.

Remaining balance and total cost

The total cost view can include remaining balance at the end of the comparison period. This helps compare scenarios over a holding or review period rather than only comparing monthly payments.

What this calculator does not include

This calculator does not include taxes, lender eligibility, break fees, offset or redraw accounts, mortgage insurance, changing rates, advice costs or product recommendations.

Key terms and assumptionsFormula notes, key terms, source assumptions and limits used in this calculator.

These notes are specific to this calculator. Read the property methodology notes for shared property formulas, region settings and estimate limits.

Comparison period
The comparison period is the number of years used for the side-by-side cost estimate.
Upfront fees
Upfront fees are added to each scenario's estimated cost at the start of the comparison.
Remaining balance
Remaining balance is the estimated unpaid loan balance at the end of the comparison period.
Total cost
The total cost view includes payments made and upfront fees, plus remaining balance if that setting is enabled.
Break-even
Break-even is the estimated period when a higher-fee option catches up through lower cumulative payments.
Region settings
Region settings change defaults, labels and currency formatting only. They do not convert exchange rates or create country-specific results.
General estimate
The result does not include taxes, lender eligibility, break fees, offset accounts, changing rates, advice costs or product recommendations.

Guides and methodology

Plain-English notes that explain the assumptions behind related calculators and tools.

Mortgage Refinance Break-Even ExampleA worked mortgage refinance example showing payment change, refinance costs, break-even months and interest tradeoffs.Mortgage Repayments ExplainedUnderstand principal, interest, home-loan repayments, total housing cost and regional mortgage wording.Extra Mortgage Payments: How They Change Interest and Payoff TimeA worked example showing how extra mortgage payments can change estimated interest, payoff time and remaining balance.Property calculator methodologyShared property formulas and assumptions for mortgages, rental metrics, downside scenarios, region settings and estimate limits.

Related calculators

FAQs

What does this mortgage comparison calculator compare?

It compares two mortgage scenarios by payment, interest, fees, remaining balance and estimated cost over the selected period.

Should I compare over the full loan term?

You can, but many people compare over the expected holding, refinance or review period.

Why can a lower payment cost more overall?

A lower payment can come from a longer term or higher total interest over time.

How do upfront fees affect the result?

Higher fees can make a lower-rate option take longer to break even.

Does this include taxes or insurance?

No. It focuses on loan payments, interest, fees and remaining balance.

Does this account for changing rates?

No. Each scenario assumes the entered rate stays constant.

Is the lower-cost scenario a recommendation?

No. It is a comparison of the numbers entered, not mortgage advice.

How is this different from the mortgage payment calculator?

The mortgage payment calculator focuses on one loan. This tool compares two scenarios side by side.