Compare Side by Side
Which Mortgage Costs Less?
Two rates, two terms, or two lender offers. Put them side by side and see the monthly payment difference, the 5-year interest cost, and which option saves you more.
Sync mortgage amounts
Mortgage Amount
$640,000.00
Rate
5.25%
Rate Term
Amortization
25 years
Lender Name (optional)
Mortgage Amount
$640,000.00
Rate
4.90%
Rate Term
Amortization
25 years
Lender Name (optional)
Comparison Results
| Metric | Fixed Rate | Variable Rate |
|---|---|---|
| Mortgage Amount | $640,000.00 | $640,000.00 |
| Rate | 5.25% | 4.90% |
| Amortization | 25 years | 25 years |
| Monthly Payment | $3,813.88 | $3,685.92 |
$127.95/month difference
Over 5 years, that adds up to $7,677.16 in savings with Variable Rate.
Over the Rate Term
| Metric | Fixed Rate (5 Year) | Variable Rate (5 Year) |
|---|---|---|
| Interest Paid | $157,481.33 | $146,709.16 |
| Balance Remaining | $568,648.81 | $565,553.81 |
| Total Cost | $228,832.52 | $221,155.36 |
Over the rate term, Variable Rate costs $7,677.16 less than Fixed Rate.
Full Amortization
| Metric | Fixed Rate (25yr) | Variable Rate (25yr) |
|---|---|---|
| Total Interest | $504,162.60 | $465,776.79 |
| Total Cost | $1,144,162.60 | $1,105,776.79 |
Variable rates change with the lender's prime rate. The figures above assume the variable rate stays constant for the full amortization. Actual costs will differ as rates move over time.
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