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What A Difference An Interest Rate Can Make?
This calculator simply compares two different interest rates and tells you how much money you will pay over the life of the loan.
Loan amount
?
Put lower Interest rate here
?
Put higher Interest rate here
?
Term (usually 30 or 15 years)
?
Click here for printer friendly version
Your interest rate number #1 of
6.00%
will cost you
$323,757.28
over the life of the loan. Your interest rate number #2 of
6.50%
will cost you
$341,316.73
over the life of the loan. Therefore, you will save
$17,559.45
with a lower interest rate.
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