# Which Loan Is Better Mortgage Calculator

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### Loan 2

Loan Amount:
Interest Rate:
Term:
Points:
Origination Fees:
Closing Costs:
 0 0 0

## Which Loan Is Better Mortgage Calculator

For a loan amount of \$200,000.00, Loan 1 will result in a points value of \$2,000.00, origination fees of \$0.00, and total closing costs of \$1,200.00. You will pay monthly principal and interest of \$1,073.64, resulting in total monthly payments of \$386,511.60 and payment savings of \$0.00. Loan 2, by contrast, will result in a points value of \$3,000.00, origination fees of \$1,000.00, and total closing costs of \$4,700.00. You will pay monthly principal and interest of \$1,043.30, resulting in total monthly payments of \$375,586.10 and payment savings of \$10,925.48.

The chart below shows you which loan is better in terms of total interest paid. The lower amount is preferable because you will pay less interest on your total amount.

Current Interest Rates
PRODUCT +/- Rate Last week
30 year fixed 4.09% 4.16%
15 year fixed 3.25% 3.30%
5/1 ARM 3.28% 3.36%
PRODUCT +/- Rate Last week
30 year fixed refi 4.09% 4.17%
15 year fixed refi 3.25% 3.34%
10 year fixed refi 3.15% 3.18%
PRODUCT +/- Rate Last week
60 month used car loan 3.20% 3.20%
48 month used car loan 3.18% 3.19%
60 month new car loan 3.44% 3.44%
PRODUCT +/- Yield Last week
6 Month CD 0.75% 0.71%
1 Year CD 1.24% 1.24%
2 Year CD 1.41% 1.41%
PRODUCT Rate
MMA and SAVINGS 0.58%
\$10k MMA 0.57%
Interest Checking 0.43%
Compare Mortgage Rates
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