Compare loan options

Find the best mortgage rate and terms for your home purchase

$
%

$100,000 down

years
%
%

Comparison Results

Complete the form above to see your personalized comparison

Loan 1
$--,---
Monthly Payment
Loan 2
$--,---
Monthly Payment
Savings
$--,---
Total Difference

Educational disclaimer

This calculator is for research and education only. Estimates are not offers or advice. Actual terms vary by lender and your situation.

Common scenarios

Real-world examples to help you understand your options

🏠
First-Time Buyer

Toronto Condo

Young professional purchasing first home with minimal down payment.

Price
$550K
Down
$30K (5.45%)
Rate
6.5%
Payment
~$3,480/mo

Includes CMHC mortgage insurance

⬆️
Move-Up Buyers

Family Home

Growing family upgrading to larger home with equity from previous sale.

Price
$875K
Down
20%
Rate
6.2%
Payment
~$4,290/mo

No mortgage insurance needed

🏢
Investment Property

Calgary Rental

Investor purchasing rental property with required minimum down payment.

Price
$425K
Down
20%
Rate
6.8%
Payment
~$2,240/mo

Higher rates for investment properties

🔄
Refinancing

Vancouver Home

Homeowner switching to better rate when mortgage term expires.

Balance
$720K
Term
22 years
New Rate
5.9%
Savings
~$400/mo

Compared to previous 7.2% rate

Questions?

Everything you need to know about using our mortgage tools

Our Loan Comparison Calculator helps you easily compare two different mortgage or loan options side by side. By entering your loan details, you can see how different interest rates and terms affect your monthly payments and the total cost over time.

  • Home Price ($): Enter the total price of the home or property you're interested in.
  • Down Payment (%): Input the percentage of the home price you're planning to pay upfront.
  • Loan Term (years): Specify the length of the loan in years (e.g., 15 or 30 years).
  • Interest Rate 1 (%): Enter the interest rate for the first loan option.
  • Interest Rate 2 (%): Enter the interest rate for the second loan option.

Click on "Compare Loans" to see the results.

  • Monthly Payments: How much you'll pay each month for each loan option.
  • Total Interest Paid: The total amount of interest you'll pay over the life of each loan.
  • Difference: The difference in monthly payments and total interest between the two loans.
  • Amortization Chart: A visual graph showing how your loan balances and interest payments change over time.

Pro tips

  • Explore Different Scenarios: Try adjusting the inputs to see how changes in interest rates, down payments, and loan terms affect your payments.
  • Budget Planning: Use our calculators to help plan your budget and prepare for homeownership costs.
  • Contact a Professional: While our tools provide helpful estimates, consider speaking with a financial advisor or mortgage lender for personalized advice.

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