Loan Comparison Form
Single-column page layout with responsive calculator fields.
Example Data Table
Use this sample setup to test the calculator quickly.
| Field | Loan A Example | Loan B Example |
|---|---|---|
| Loan Amount | $25,000 | $25,000 |
| Stated APR | 8.25% | 9.10% |
| Term | 60 months | 60 months |
| Origination Fee | $450 | $0 |
| Other Upfront Fees | $125 | $60 |
| Balloon Payment | $0 | $0 |
| Compounding | Monthly | Monthly |
| Payment Frequency | Monthly | Monthly |
Formula Used
1) Equivalent periodic rate
Periodic Rate = (1 + APR / m)m / p - 1
2) Amortizing payment
Payment = r × (PV - FV / (1 + r)n) ÷ (1 - (1 + r)-n)
3) Interest and total cost
Total Interest = Total Scheduled Payments - Principal
Overall Cost = Total Scheduled Payments + Upfront Fees
4) Estimated APR from cash flows
The page also solves an internal rate of return using net proceeds at time zero and all future payments. That gives an estimated APR that reflects fees and timing more realistically than note rate alone.
Symbols: APR = annual percentage rate, m = compounding periods per year, p = payment periods per year, r = periodic rate, PV = loan amount, FV = balloon payment, n = total payments.
How to Use This Calculator
- Enter Loan A details, including APR, fees, term, and frequency settings.
- Enter Loan B details with the same care.
- Click Compare APR Difference to generate results above the form.
- Review stated APR, estimated APR, installment payment, interest, fees, and overall cost.
- Use the chart to spot the more efficient offer quickly.
- Export the summary using the CSV or PDF buttons.
Frequently Asked Questions
1) What does APR difference mean here?
It is the absolute gap between the two stated APR values. The page also estimates a cash-flow-based APR difference after fees, helping you compare offers more realistically.
2) Why can a lower APR still cost more?
A loan can advertise a lower APR but add larger upfront charges, longer repayment, or a balloon balance. Those features may raise total borrowing cost even when the note rate looks better.
3) What is estimated APR in the results?
Estimated APR is calculated from actual cash flows. It uses net proceeds after fees and all future payments, so it often highlights pricing differences better than the stated rate alone.
4) Should I keep both loan amounts the same?
Yes, if you want a clean APR comparison. Different principals or terms change payment size and lifetime cost, which can blur the pure effect of APR changes.
5) How are balloon payments handled?
The calculator discounts the balloon amount inside the payment formula and adds it to the final period. This shows how a lower regular payment may hide a larger ending obligation.
6) Does payment frequency matter?
Yes. Monthly, biweekly, and weekly schedules change the timing of cash flows. That changes installment size, total interest, and the effective cost pattern across the loan term.
7) Is overall cost the same as finance charge?
Not exactly. Overall cost here means all scheduled payments plus upfront fees. Finance charge is the interest plus fees portion above the amount originally borrowed.
8) When should I use CSV or PDF export?
Use CSV for spreadsheet analysis or recordkeeping. Use PDF when you want a clean shareable summary for clients, teammates, or side-by-side lender review.