Enter a loan amount, term, and rate to see a table of monthly payment and total interest across nearby interest rates.
Loan rates can shift between pre-approval and closing, or vary between lenders by a point or two. This tool builds a table showing the monthly payment and total interest at your quoted rate, plus rates two points below and above it in half-point steps, so you can see exactly what a rate change would cost.
Loan amount ($):
Term (years):
Your quoted rate (%):
Why Check Nearby Rates
Loan rates can shift between pre-approval and closing, or vary between lenders by a point or two. This tool builds a table showing the monthly payment and total interest at your quoted rate, plus rates two points below and above it in half-point steps, so you can see exactly what a rate change would cost.
How to Use This Calculator
- Enter the loan amount.
- Enter the loan term in years.
- Enter your quoted (or expected) interest rate.
- Click Build Table to see payment and total interest across nearby rates.
This table uses the standard fixed-rate amortization formula and doesn’t include fees, points, or taxes; treat it as a way to compare rate sensitivity, not a final loan offer.
Did You Know?
- On a typical multi-year loan, each additional half-point of interest rate adds meaningfully more to total interest than to the monthly payment.
- Locking a rate early can protect against exactly the kind of swings this table illustrates.
Frequently Asked Questions
Why does a small rate change matter so much?
Interest compounds over every payment for the life of the loan, so even a small rate difference adds up significantly over a multi-year term.
Does this include lender fees?
No, this compares principal, rate, and term only. Add any fees or closing costs separately for a full cost comparison.