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Comparison of Multiple Loan Offers Tool

Confused by different mortgage offers? The Comparison of Multiple Loan Offers Tool helps you evaluate up to three loan options side by side—so you can make a smarter, more confident decision based on total cost, monthly payments, interest rates, and fees.



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What is Comparison of Multiple Loan Offers Tool

The Comparison of Multiple Loan Offers Tool is a decision-support calculator that lets homebuyers or refinancers analyze key differences between various mortgage offers. It provides a side-by-side breakdown of loan terms, interest rates, upfront fees, monthly payments, total interest costs, and APRs—helping you clearly identify which loan provides the best overall value.

This tool is especially valuable when you’ve received multiple quotes from lenders and need to go beyond just looking at interest rates. It factors in discount points, loan origination fees, mortgage insurance (if applicable), and closing costs to show the true cost of each loan over its lifetime. Whether you’re comparing a fixed-rate vs. an ARM, FHA vs. conventional, or simply shopping lenders, this tool gives you the clarity you need.




How it works

Comparison of Multiple Loan Offers Tool

To use the tool, you’ll enter details for each loan you’re considering—including loan amount, interest rate, loan term, estimated closing costs, discount points, and whether mortgage insurance is required. The calculator then presents each loan’s monthly principal and interest payment, upfront cost, and total cost over the full term.

For example, if you’re comparing three ₹50 lakh loans with interest rates of 6.9%, 7.1%, and 6.8%, but each with different fee structures and points, the tool reveals not just which has the lowest monthly EMI but also which costs less over the loan term. One offer might have a lower rate but higher fees that don’t justify the savings unless you stay in the home for many years. This tool helps you identify the loan with the best overall financial fit based on your timeline and priorities.



Frequently Asked Questions

Why is comparing APR more useful than just comparing interest rates Toggle
APR includes the interest rate plus points, fees, and other costs. It gives a more accurate picture of the loan’s true cost over time.
Can I change my plan later? Toggle
Yes. The calculator allows for comparing both loan types. You’ll just need to estimate the ARM’s future rate adjustments to get a fair projection.
Should I always go for the lowest monthly payment Toggle
Not necessarily. A loan with the lowest monthly payment might cost more overall due to higher fees or a longer term. This tool helps you balance short-term affordability with long-term savings.
What if I plan to refinance or sell early Toggle
The tool is especially helpful here. You can evaluate how much you’ll pay in interest and fees within a specific number of years, not just over the full term
Do I need final loan offers to use this tool Toggle
No. You can use estimates or quotes from lenders. The more accurate your input, the better the comparison and insights you’ll receive.