Mortgage Comparison Calculator

Puts two or three mortgage offers side by side on the same loan amount and says which is cheapest over the years you actually expect to keep it. Enter each offer's rate, term, discount points and lender fees, and it returns the monthly payment, the cash due at closing, the interest and charges that window consumes, and the balance still owed at the end of it. It also finds the month at which one offer overtakes another. A low rate bought with points only wins if you stay long enough, and that crossover is the whole comparison.

Calculator Type
The horizon decides the winner. Most borrowers sell or refinance long before the term is up.
One point is one percent of the loan amount, paid at closing.
Origination, underwriting and processing charges. Leave out anything you would pay whichever lender you used.
One point is one percent of the loan amount, paid at closing.
Origination, underwriting and processing charges. Leave out anything you would pay whichever lender you used.
One point is one percent of the loan amount, paid at closing.
Origination, underwriting and processing charges. Leave out anything you would pay whichever lender you used.
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A shorter term costs far less interest, and a longer one frees cash every month. This sets the two against each other: both plans spend the same amount monthly for the same number of years and end with the house paid off, so the only difference left is what the invested money grew to.

The same amount borrowed either way. Only the rate and the term differ.
A shorter term is normally quoted below a longer one, which is part of why the comparison is close.
Before tax and before inflation. This is the one figure nobody knows in advance, so the break-even return below matters more than the balances.
Applied once to the gain at the end, as it would be on a taxable account sold in one go. Leave it at zero for a tax-sheltered account.
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