Which mortgage is better for me?

This calculator will help you compare the total cost of any two or three mortgages. 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.

Loan Details

Loan ID

Down payment


Loan term

Interest rate


Other fees

Loan type

Adjustable type

Maximum initial rate adjustment

Maximum subsequent rate adjustment

Anticipated rate cap

All Loans

(Enter 0 if you do not want to calculate tax effects.)

Financial Details

Loan ID

*Loan amount

*Points and fees

*Total of payments


**Principal and interest

**Private mortgage insurance

Tax savings

Final payment

Present value of loan

Loan Name 1










Loan Name 2










Loan Name 3










* Included in APR.
** Included in Payment.

Calculator tips

The "present value of the loan" figure is the cost of all tax adjusted payments plus tax adjusted points, fees and down payment, discounted back to the start of the loan at the savings rate you entered. You may also think of it as the amount you would have to invest today (e.g., in a savings account) to cover the points, fees, down payment, and all monthly payments for as long as you keep this property.

In this calculation, points are deducted up front as opposed to being amortized over the life of the loan. This is most consistent with new primary residence purchases. The deduction on loan points for refinances and income properties are usually amortized over the life of the loan.

Calculator disclaimer

The information provided by these calculators is intended for illustrative purposes only and is not intended to purport actual user-defined parameters. The default figures shown are hypothetical and may not be applicable to your individual situation. Be sure to consult a financial professional prior to relying on the results.

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