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Real Estate

Comparing Mortgage Terms (i.e. 15, 20, 30 year)

Good (108 Ratings)

2.8333358/5

Different mortgage terms and rates can make the loan selection process confusing, especially if you don't plan on keeping the loan for the full term. Use this calculator to determine the total cost in today's dollars of various mortgage alternatives taking into account your opportunity cost of money.

Loan Amount	Input
Amount of loan	(0-999999999)$

Mortgage Alternatives and Assumptions	Loan1	Loan2	Loan3
Term: (in years)	(1-40)	(1-40)	(1-40)
Annual interest rate: (%)	(0-30)%	(0-30)%	(0-30)%

Comparison Assumptions	Input
Comparison options/cost of money: (%)	Cost only (0%)Inflation (3.5%)Specify (below)
	(0-30)%
Marginal tax bracket: (%)	(0-50)%
Years to compare total costs:	(1-30)

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Loan Amount	Input
Amount of loan

Mortgage Alternatives and Assumptions	Loan1	Loan2	Loan3
Term: (in years)
Annual interest rate: (%)

Comparison Assumptions	Input
Comparison options/cost of money: (%)
Marginal tax bracket: (%)
Years to compare total costs:

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{ "fields" : { "udata" : [ "loanAmount" , "" , "" , "" , "termYears1" , "termYears2" , "termYears3" , "interestRate1" , "interestRate2" , "interestRate3" , "comparisonRate" , "overrideRate" , "taxBracket" , "comparisonYear" ] } }

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This calculator is provided by Financial Calculators, Inc., and is intended solely for general information and educational purposes. You should not take any action on the basis of the information provided through this calculator. Please see the disclaimer for further information and limitations.

Rate This calculator

Good (108 Ratings)

3/5

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Rates

See today's average rates across the country.

• Mortgage

  Loan Type	Today	Last Week
  30 Year Fixed	5.11%	5.07%
  15 Year Fixed	4.48%	4.55%
  1 Year ARM	3.91%	3.94%
  30 Year Fixed Jumbo	5.90%	5.86%
  5/1 ARM	4.25%	4.19%
  3/1 ARM	4.94%	4.97%

  Source: Bankrate
• Home Equity

  Loan Type	Today	Last Week
  $30K Home Equity Loan	8.38%	8.34%
  $50K Home Equity Loan	8.28%	8.22%
  $75K Home Equity Loan	8.31%	8.25%
  $30K HELOC	5.17%	5.19%
  $50K HELOC	4.91%	4.93%
  $75K HELOC	4.91%	4.93%

  Source: Bankrate
• Savings

  Savings Type	Today	Last Week
  6 month CD	1.02%	1.05%
  1 year CD	1.44%	1.51%
  3 year CD	2.03%	2.09%
  MMA	0.87%	0.90%
  $10K MMA	0.93%	0.98%
  $25K MMA	1.12%	1.18%

  Source: Bankrate
• Auto

  Loan Type	Today	Last Week
  36 Month New Car Loan	6.71%	6.70%
  48 Month New Car Loan	6.84%	6.82%
  60 Month New Car Loan	6.88%	6.86%
  72 Month New Car Loan	6.12%	6.12%
  36 Month Used Car Loan	7.17%	7.17%
  48 Month Used Car Loan	7.05%	7.05%

  Source: Bankrate
• Credit Cards

  Card Type	Today	Last Week
  Business Credit Cards	10.74%	9.74%
  Low Interest Credit Cards	11.97%	11.75%
  Balance Transfer Credit Cards	12.09%	12.20%
  Cash Back Credit Cards	12.49%	12.08%
  Instant Approval Credit Cards	13.32%	13.32%
  Reward Credit Cards	13.42%	13.29%

  Source: CreditCards.com

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