---
title: "Loan Comparison Calculator: Two Offers | MCC Solutions"
description: "Compare two loan offers with different rates and terms: monthly payment, total interest and the difference. Free and private."
url: "https://mcc-solutionsnj.com/bookkeeping/loan-comparison-calculator"
---

Free tool

# Loan comparison calculator

Put two offers side by side. Enter the same loan amount with each lender's rate and term to see which costs less overall.

[![Intuit ProAdvisor Gold tier badge](/img/credentials/intuit-proadvisor-gold.png)](https://proadvisor.intuit.com/app/accountant/search?searchId=matthew-coleman77)Gold tier in Intuit's ProAdvisor program. [See my Intuit listing](https://proadvisor.intuit.com/app/accountant/search?searchId=matthew-coleman77)

Want this tracked every month? Wrenfold keeps your budget on your own device. [See Wrenfold](/personal-finance)

Loan amount ($)

Loan A rate (APR %)

Loan A term (years)

Loan B rate (APR %)

Loan B term (years)

Prefer to talk it through? [Take the free books check](/bookkeeping/health-check) or [contact us](/contact).

Share

## Put this tool on your own site

Free to use. Paste this where you want it to appear. It runs in the visitor's browser, so nothing they enter is sent to us.

[See every calculator you can embed](/embed)

How it works

## How it works

Each loan's payment uses the standard fixed-rate formula. **Total interest** is the payment times the number of months, minus the amount borrowed. The last rows show the difference between the two.

FAQ

## About this calculator

**Should I pick the lower payment?**

Not by itself. A lower payment from a longer term often costs more in total interest. Weigh the payment against the total cost.

**Do fees matter?**

Yes. Origination and other fees raise the real cost. Compare the APR and ask each lender for the full fee list.

**What is APR?**

The yearly cost of a loan including certain fees, shown as a rate, which makes offers easier to compare.

**Is anything saved?**

No. The math runs in your browser and nothing you enter is sent to us.

**Is this a quote or advice?**

No. It is a calculator for general information. Check results against your own figures before you rely on them.

Read the guide: [How to Compare Two Loan Offers](/tools/guides/how-to-compare-two-loan-offers). Related: [business loan payment calculator](/bookkeeping/business-loan-payment-calculator), [loan amortization schedule calculator](/bookkeeping/loan-amortization-schedule-calculator). See [all free tools](/free-tools). More free tools: [1099-K reconciliation calculator](/bookkeeping/1099-k-reconciliation-calculator), [Current ratio calculator](/bookkeeping/current-ratio-calculator), [Debt service coverage ratio calculator](/bookkeeping/debt-service-coverage-ratio-calculator), or [see all free tools](/free-tools).

Free

### Month-End Close Checklist (PDF)

The five-day close, one page to print. Enter your email and we send a link to confirm it is yours, then the download. We may email you about new toolkits, and every email has an unsubscribe link.

General information, not tax or legal advice. [How we write and check our tools](/editorial-standards).

Do it yourself

### Small Business Loan-Readiness Workbook

See debt service coverage, current ratio and debt-to-equity before the bank does, and keep track of the documents a lender will ask for.

[See what's inside ($39)](/toolkits/loan-readiness-workbook)14-day full refund

Wrenfold

### Keep this going in a budget you own

Wrenfold keeps accounts, budgets, bills and goals on your own computer or iPhone, with budgets that roll over each month. Bring in a bank CSV or your You Need A Budget file, or keep balances current through SimpleFIN Bridge, a separate service you sign up for. $79 once, with an optional $5 a month for updates; the app keeps working if you stop. The free trial records up to 60 entries.

[See Wrenfold](/personal-finance) [Compare the three apps](/software)

## Want your books and numbers handled?

[Free health check](/bookkeeping/health-check)[Call (908) 444-6373](tel:+19084446373)