Mortgage Comparison Tool
Change one variable at a time — down payment, term or rate — and see exactly what moves. These are factual comparisons, not recommendations.
Shared across every scenario
Keeping the home and ownership costs identical is what makes the comparison meaningful.
Scenario A
Scenario B
Scenario C
Lowest monthly payment: Scenario B
$2,539/mo
Scenario C pays the least interest over the life of the loan ($166,062). Lowest payment and lowest total interest are often different scenarios — neither is automatically the right choice.
Side-by-side comparison
Change one variable at a time — down payment, rate or term — to see exactly what moves.
| Figure | Scenario A | Scenario B | Scenario C |
|---|---|---|---|
| Down payment | $20,000 | $80,000 | $80,000 |
| Down payment % | 5.0% | 20.0% | 20.0% |
| Loan amount | $380,000 | $320,000 | $320,000 |
| Interest rate | 6.500% | 6.500% | 6.000% |
| Term | 30 years | 30 years | 15 years |
| Principal & interest | $2,402/mo | $2,023/mo | $2,700/mo |
| Estimated PMI | $190/mo | — | — |
| Taxes, insurance, HOA | $517/mo | $517/mo | $517/mo |
| Total monthly payment | $3,109/mo | $2,539/mo | $3,217/mo |
| Total interest over the loan | $484,669 | $408,142 | $166,062 |
| Loan-to-value | 95.0% | 80.0% | 80.0% |
Total interest assumes every scheduled payment is made for the full term with no extra principal and no refinancing.
What the differences mean
- Monthly payment spread: $678/mo between the highest and lowest scenario.
- Total interest spread: $318,608 over the life of the loans.
- Cash needed for the down payment ranges from $20,000 to $80,000, before closing costs.
Want to understand this number?
How this calculator works
Each scenario uses the same home price, taxes, insurance and HOA dues. Only the down payment, rate and term change. For each one, the calculator works out the loan amount, runs the standard fixed-rate amortisation formula for the monthly principal and interest, adds estimated mortgage insurance when the loan is above 80% of the home's value, then adds the shared monthly costs.
Total interest is the sum of every scheduled interest payment across the full term, so a shorter term usually shows a higher monthly payment and far less interest overall.
What it can't tell you
- Real quotes bundle rate, points, lender credits and fees together, so the cheapest rate is not always the cheapest loan.
- Adjustable-rate mortgages, buydowns and interest-only structures are not modelled.
- Total interest assumes you keep the loan for its whole term; most buyers sell or refinance sooner.
- Qualifying for a given down payment or term depends on the lender and program, which this tool does not assess.