Loan 1
- Initial payment
- $3,135
- Down payment
- $90,000
- Total interest
- $480,583
- Scheduled mortgage insurance
- $0
- Estimated total payments
- $1,128,583
- Financed loan
- $360,000
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Mortgage planning
Compare Two Mortgage Options
Compare payment, down payment, mortgage insurance, and estimated long-term cost using the same assumptions as Total Mortgage Payment.
Loan 1
Set assumptions for the first financing option.
%
%
years
%
$7,200 annually · $600 monthly
% yearly
Loan 2
Set independent assumptions or copy Loan 1.
%
%
years
%
$7,200 annually · $600 monthly
% yearly
Compare the estimates
Lower cost in one category does not make a loan universally better. Different loan terms cover different time periods.
Monthly payment difference (Loan 1 − Loan 2)
$118
Initial payment, including active mortgage insurance.
Down payment difference
$0
Total-payment difference
$42,614
Includes P&I, scheduled mortgage insurance, taxes, insurance, and HOA.
Loan 2
- Initial payment
- $3,017
- Down payment
- $90,000
- Total interest
- $437,969
- Scheduled mortgage insurance
- $0
- Estimated total payments
- $1,085,969
- Financed loan
- $360,000
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