Loan Comparison

This calculator will help you compare the total cost of any two loans. For example, you could consider the benefit of paying extra points to reduce your interest rate, or choosing a fixed instead of a variable rate loan. Simply enter the desired values for each loan and press compute to see the results. The comparison will assume a worst case scenario. For adjustable rate loans, rates will increase the maximum amount each time the loan re-prices, until it reaches the anticipated rate cap.

This analysis includes the effect of a tax deduction for interest. If the interest is not deductible, or if you do not want to show the effect of the tax deduction, choose an income tax rate of zero.

For help with a particular item, click on the "?" next to the item.

Both Loans
Loan amount: $
Your income tax rate: ? %
Loan 1 Loan 2
Down Payment $ $
Number of Payments
Payment Frequency (Months)
Interest Rate % %
Points
Other Fees ? $ $
Fixed or Adjustable ?
  Re-pricing interval (months) ?
  Re-pricing rate adjustment ? % %
  Anticipated rate cap ? % %

Totals:

Loan 1 Loan 2 Difference
Payment Amount $ 658.60 $ 658.60 $ 0.00
Points and Fees $ 0.00 $ 0.00 $ 0.00
Total Payments $ 237,096.49 $ 237,096.49 $ 0.00
After Tax Savings ? $ 198,709.47 $ 198,709.47 $ 0.00
Cost of all payments today discounted at 5% ?
Present Value $ 114,109.11 $ 114,109.11 $ 0.00

Presented by
TimeValue Software
for
Community National Bank

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The information provided by these calculators is for illustrative purposes only. The information entered may vary from your actual loan, mortgage, investment, or savings results. Interest rates are hypothetical and are not meant to represent any specific investment. Rates of return will vary over time, particularly for long-term investments. The calculated results are not guaranteed to be accurate and are in no way endorsed, offered or guaranteed by Community National Bank.