Mortgage Loan Comparison Guide | Compare Lenders Within Loan Types

Overview

Comparing loans is essential to find the best deal. Currently, comparisons can be done within the same loan type—fixed-rate, interest-only, or ARM. Cross-type comparisons (e.g., Fixed vs Interest-Only) are planned for future updates.

Step 1: Key Metrics to Compare

• APR
• Term length
• Monthly payment
• Total interest
• Extra fees or charges

Step 2: Use Calculators for Each Loan Type

Simulate different scenarios for the same loan type using your calculator. Input your loan amount, term, and rate to see expected monthly payments.

Note: Cross-type comparisons are not available yet.

Step 3: Compare Multiple Lenders

Look at 2–3 lender offers for the same type of loan. Check APR, fees, and repayment flexibility. Use the comparison to decide which lender suits your budget and goals.

Step 4: Plan Your Next Steps

Choose the lender with the best combination of rate and terms. Consider your long-term financial plan, not just the initial rate. Revisit comparisons if interest rates or loan terms change.

FAQs

Q1: Can I compare Fixed, Interest-Only, and ARM loans side by side?
A: Not yet. Current tools allow comparisons within the same loan type. Cross-type comparison is coming soon.

Q2: Why should I compare multiple lenders?
Different lenders offer different rates and fees even for the same loan type.

Q3: Should I focus on monthly payments or total interest?
Both matter because monthly payments affect cash flow and total interest determines long-term cost.

Q4: Can I use calculators to plan for future changes?
Yes, you can simulate different scenarios for the same loan type to see how payments might change.

Tools and Resources

Compare 2–3 Lenders
Quickly compare rates and terms from 2–3 lenders side-by-side.
👉 Lender Comparison Tool

Calculate Your Payments
Estimate your monthly mortgage payments accurately.
👉 Mortgage Calculator