These educational calculators set out to illustrate various mortgage-related scenarios or comparisons and should not be construed as an offer to lend.

Please refer to our formal disclaimer for more information.

Click the link above to acknowledge this note and close the window.

Benjamin Hulshof

Windmill Mortgage Services LLC

President/Mortgage Consultant

NMLS 216697 | LO.02757.000

(614) 362-6828

ben@windmillmortgage.com

www.windmillmortgage.com

Four Loan Comparison Calculator
Use this calculator to make a net cost, side-by-side comparison of up to 4 different loan options.
 
Marginal Tax Bracket to Use =  
Loan Options
  Option 1   Option 2   Option 3   Option 4
Loan Amount
       
Interest Rate
       
Discount Points
       
Loan Term in Years
       
 
Principal and Interest Payments        
 
Payment difference vs. Option 1
         
Total Interest Paid
       
 
Total Principal and Interest Payments Made
       
 
Cost of Points Paid
+      
 
Total Principal Paid
-      
 
Tax Deduction on Interest Paid
-      
 
Tax Deduction on Points Paid
-      
 
Total Net Loan Cost
=      
 
The graph shows the total cost of the payments and any points paid less principal and any tax deductions.
Payments + points - principal - tax benefits = net cost
Number of years for loan comparison
 
Total Net Cost Difference vs. Option 1:
         
 
This loan comparison calculator can be used in many ways. The primary benefit is to compare various loan options side by side so you can see clearly the payment, principal and cost differentials not only as they appear on the surface but, also over the specific time period that you expect to own your home or have your loan before sale or refinance. If you have any questions or would like to go through this together, please reach out.

The information contained in these calculators and reports is for informational purposes only. The use, presentation or receipt of this information does not constitute an offer to lend, an application, a Good Faith Estimate, or estimate of fees. Where included, interest rates are subject to change at any time and are not intended to be viewed as the current market rate. Annual Percentage Rates (APRs) can also vary at any time and are presented as approximations. APRs shown here are generally calculated conservatively and may be higher than the actual current market APR, which will be determined and disclosed upon request of a formal Good Faith Estimate or upon application for financing. Every effort has been made to assure the accuracy of the information and mathematical calculations; however, the provider makes no guarantee and maintains no liability for use of or reliance upon the results. Formulation of a scenario using these tools does not mean that the results are guaranteed. All loan products have guidelines, and those rules or tolerances will vary based upon many factors, including but not limited to loan to value ratios, income, employment history, debts, assets, creditworthiness, and underwriter's review and approval.

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