Mortgage Calc WiseMortgage Calc Wise

Mortgage Rate Comparison Calculator

Isolate what a rate difference does to the same loan balance over the same repayment term.

Loan details

$
%
%
years

Your estimate

Comparison monthly P&I
$2,022.62
New monthly P&I
$1,867.43
Monthly payment reduction
$155.18
Interest difference
$55,866.43
Balance over time$0$106.7K$213.3K$320K090180270360Month
Alternative rateOriginal loan

Starting values are illustrative, not live quotes. Same balance and term, with no fee difference. Use the points or refinance calculator when offers have different costs.

Payment schedule
Payment schedule
MonthPaymentPrincipalInterestBalance
1$1,867.43$334.10$1,533.33$319,665.90
2$1,867.43$335.70$1,531.73$319,330.20
3$1,867.43$337.31$1,530.12$318,992.89
4$1,867.43$338.93$1,528.51$318,653.96
5$1,867.43$340.55$1,526.88$318,313.42
6$1,867.43$342.18$1,525.25$317,971.23
7$1,867.43$343.82$1,523.61$317,627.41
8$1,867.43$345.47$1,521.96$317,281.94
9$1,867.43$347.12$1,520.31$316,934.82
10$1,867.43$348.79$1,518.65$316,586.03
11$1,867.43$350.46$1,516.97$316,235.57
12$1,867.43$352.14$1,515.30$315,883.44
13$1,867.43$353.83$1,513.61$315,529.61
14$1,867.43$355.52$1,511.91$315,174.09
15$1,867.43$357.22$1,510.21$314,816.87
16$1,867.43$358.94$1,508.50$314,457.93
17$1,867.43$360.66$1,506.78$314,097.28
18$1,867.43$362.38$1,505.05$313,734.89
19$1,867.43$364.12$1,503.31$313,370.77
20$1,867.43$365.86$1,501.57$313,004.91
21$1,867.43$367.62$1,499.82$312,637.29
22$1,867.43$369.38$1,498.05$312,267.91
23$1,867.43$371.15$1,496.28$311,896.76
24$1,867.43$372.93$1,494.51$311,523.83
25$1,867.43$374.71$1,492.72$311,149.12
26$1,867.43$376.51$1,490.92$310,772.61
27$1,867.43$378.31$1,489.12$310,394.29
28$1,867.43$380.13$1,487.31$310,014.17
29$1,867.43$381.95$1,485.48$309,632.22
30$1,867.43$383.78$1,483.65$309,248.44
31$1,867.43$385.62$1,481.82$308,862.82
32$1,867.43$387.47$1,479.97$308,475.36
33$1,867.43$389.32$1,478.11$308,086.03
34$1,867.43$391.19$1,476.25$307,694.85
35$1,867.43$393.06$1,474.37$307,301.78
36$1,867.43$394.95$1,472.49$306,906.84
37$1,867.43$396.84$1,470.60$306,510.00
38$1,867.43$398.74$1,468.69$306,111.26
39$1,867.43$400.65$1,466.78$305,710.61
40$1,867.43$402.57$1,464.86$305,308.04
41$1,867.43$404.50$1,462.93$304,903.54
42$1,867.43$406.44$1,461.00$304,497.11
43$1,867.43$408.38$1,459.05$304,088.72
44$1,867.43$410.34$1,457.09$303,678.38
45$1,867.43$412.31$1,455.13$303,266.07
46$1,867.43$414.28$1,453.15$302,851.79
47$1,867.43$416.27$1,451.16$302,435.52
48$1,867.43$418.26$1,449.17$302,017.26
49$1,867.43$420.27$1,447.17$301,596.99
50$1,867.43$422.28$1,445.15$301,174.71
51$1,867.43$424.30$1,443.13$300,750.41
52$1,867.43$426.34$1,441.10$300,324.07
53$1,867.43$428.38$1,439.05$299,895.69
54$1,867.43$430.43$1,437.00$299,465.26
55$1,867.43$432.50$1,434.94$299,032.76
56$1,867.43$434.57$1,432.87$298,598.19
57$1,867.43$436.65$1,430.78$298,161.54
58$1,867.43$438.74$1,428.69$297,722.80
59$1,867.43$440.84$1,426.59$297,281.95
60$1,867.43$442.96$1,424.48$296,839.00
61$1,867.43$445.08$1,422.35$296,393.92
62$1,867.43$447.21$1,420.22$295,946.71
63$1,867.43$449.36$1,418.08$295,497.35
64$1,867.43$451.51$1,415.92$295,045.84
65$1,867.43$453.67$1,413.76$294,592.17
66$1,867.43$455.85$1,411.59$294,136.33
67$1,867.43$458.03$1,409.40$293,678.30
68$1,867.43$460.22$1,407.21$293,218.07
69$1,867.43$462.43$1,405.00$292,755.64
70$1,867.43$464.65$1,402.79$292,290.99
71$1,867.43$466.87$1,400.56$291,824.12
72$1,867.43$469.11$1,398.32$291,355.01
73$1,867.43$471.36$1,396.08$290,883.66
74$1,867.43$473.62$1,393.82$290,410.04
75$1,867.43$475.89$1,391.55$289,934.16
76$1,867.43$478.17$1,389.27$289,455.99
77$1,867.43$480.46$1,386.98$288,975.53
78$1,867.43$482.76$1,384.67$288,492.78
79$1,867.43$485.07$1,382.36$288,007.70
80$1,867.43$487.40$1,380.04$287,520.31
81$1,867.43$489.73$1,377.70$287,030.58
82$1,867.43$492.08$1,375.35$286,538.50
83$1,867.43$494.44$1,373.00$286,044.06
84$1,867.43$496.81$1,370.63$285,547.26
85$1,867.43$499.19$1,368.25$285,048.07
86$1,867.43$501.58$1,365.86$284,546.49
87$1,867.43$503.98$1,363.45$284,042.51
88$1,867.43$506.40$1,361.04$283,536.11
89$1,867.43$508.82$1,358.61$283,027.29
90$1,867.43$511.26$1,356.17$282,516.03
91$1,867.43$513.71$1,353.72$282,002.32
92$1,867.43$516.17$1,351.26$281,486.15
93$1,867.43$518.65$1,348.79$280,967.50
94$1,867.43$521.13$1,346.30$280,446.37
95$1,867.43$523.63$1,343.81$279,922.75
96$1,867.43$526.14$1,341.30$279,396.61
97$1,867.43$528.66$1,338.78$278,867.95
98$1,867.43$531.19$1,336.24$278,336.76
99$1,867.43$533.74$1,333.70$277,803.02
100$1,867.43$536.29$1,331.14$277,266.73
101$1,867.43$538.86$1,328.57$276,727.87
102$1,867.43$541.45$1,325.99$276,186.42
103$1,867.43$544.04$1,323.39$275,642.38
104$1,867.43$546.65$1,320.79$275,095.73
105$1,867.43$549.27$1,318.17$274,546.47
106$1,867.43$551.90$1,315.54$273,994.57
107$1,867.43$554.54$1,312.89$273,440.03
108$1,867.43$557.20$1,310.23$272,882.83
109$1,867.43$559.87$1,307.56$272,322.96
110$1,867.43$562.55$1,304.88$271,760.41
111$1,867.43$565.25$1,302.19$271,195.16
112$1,867.43$567.96$1,299.48$270,627.20
113$1,867.43$570.68$1,296.76$270,056.52
114$1,867.43$573.41$1,294.02$269,483.11
115$1,867.43$576.16$1,291.27$268,906.95
116$1,867.43$578.92$1,288.51$268,328.03
117$1,867.43$581.69$1,285.74$267,746.34
118$1,867.43$584.48$1,282.95$267,161.86
119$1,867.43$587.28$1,280.15$266,574.57
120$1,867.43$590.10$1,277.34$265,984.48
121$1,867.43$592.92$1,274.51$265,391.55
122$1,867.43$595.77$1,271.67$264,795.79
123$1,867.43$598.62$1,268.81$264,197.17
124$1,867.43$601.49$1,265.94$263,595.68
125$1,867.43$604.37$1,263.06$262,991.31
126$1,867.43$607.27$1,260.17$262,384.04
127$1,867.43$610.18$1,257.26$261,773.87
128$1,867.43$613.10$1,254.33$261,160.77
129$1,867.43$616.04$1,251.40$260,544.73
130$1,867.43$618.99$1,248.44$259,925.74
131$1,867.43$621.96$1,245.48$259,303.78
132$1,867.43$624.94$1,242.50$258,678.85
133$1,867.43$627.93$1,239.50$258,050.92
134$1,867.43$630.94$1,236.49$257,419.98
135$1,867.43$633.96$1,233.47$256,786.01
136$1,867.43$637.00$1,230.43$256,149.01
137$1,867.43$640.05$1,227.38$255,508.96
138$1,867.43$643.12$1,224.31$254,865.84
139$1,867.43$646.20$1,221.23$254,219.64
140$1,867.43$649.30$1,218.14$253,570.34
141$1,867.43$652.41$1,215.02$252,917.94
142$1,867.43$655.53$1,211.90$252,262.40
143$1,867.43$658.68$1,208.76$251,603.72
144$1,867.43$661.83$1,205.60$250,941.89
145$1,867.43$665.00$1,202.43$250,276.89
146$1,867.43$668.19$1,199.24$249,608.70
147$1,867.43$671.39$1,196.04$248,937.31
148$1,867.43$674.61$1,192.82$248,262.70
149$1,867.43$677.84$1,189.59$247,584.86
150$1,867.43$681.09$1,186.34$246,903.77
151$1,867.43$684.35$1,183.08$246,219.42
152$1,867.43$687.63$1,179.80$245,531.79
153$1,867.43$690.93$1,176.51$244,840.86
154$1,867.43$694.24$1,173.20$244,146.62
155$1,867.43$697.56$1,169.87$243,449.06
156$1,867.43$700.91$1,166.53$242,748.15
157$1,867.43$704.26$1,163.17$242,043.89
158$1,867.43$707.64$1,159.79$241,336.25
159$1,867.43$711.03$1,156.40$240,625.22
160$1,867.43$714.44$1,153.00$239,910.78
161$1,867.43$717.86$1,149.57$239,192.92
162$1,867.43$721.30$1,146.13$238,471.62
163$1,867.43$724.76$1,142.68$237,746.86
164$1,867.43$728.23$1,139.20$237,018.63
165$1,867.43$731.72$1,135.71$236,286.91
166$1,867.43$735.23$1,132.21$235,551.69
167$1,867.43$738.75$1,128.69$234,812.94
168$1,867.43$742.29$1,125.15$234,070.65
169$1,867.43$745.84$1,121.59$233,324.81
170$1,867.43$749.42$1,118.01$232,575.39
171$1,867.43$753.01$1,114.42$231,822.38
172$1,867.43$756.62$1,110.82$231,065.76
173$1,867.43$760.24$1,107.19$230,305.52
174$1,867.43$763.89$1,103.55$229,541.63
175$1,867.43$767.55$1,099.89$228,774.09
176$1,867.43$771.22$1,096.21$228,002.86
177$1,867.43$774.92$1,092.51$227,227.94
178$1,867.43$778.63$1,088.80$226,449.31
179$1,867.43$782.36$1,085.07$225,666.95
180$1,867.43$786.11$1,081.32$224,880.84
181$1,867.43$789.88$1,077.55$224,090.96
182$1,867.43$793.66$1,073.77$223,297.29
183$1,867.43$797.47$1,069.97$222,499.83
184$1,867.43$801.29$1,066.14$221,698.54
185$1,867.43$805.13$1,062.31$220,893.41
186$1,867.43$808.99$1,058.45$220,084.42
187$1,867.43$812.86$1,054.57$219,271.56
188$1,867.43$816.76$1,050.68$218,454.81
189$1,867.43$820.67$1,046.76$217,634.13
190$1,867.43$824.60$1,042.83$216,809.53
191$1,867.43$828.55$1,038.88$215,980.98
192$1,867.43$832.52$1,034.91$215,148.45
193$1,867.43$836.51$1,030.92$214,311.94
194$1,867.43$840.52$1,026.91$213,471.42
195$1,867.43$844.55$1,022.88$212,626.87
196$1,867.43$848.60$1,018.84$211,778.27
197$1,867.43$852.66$1,014.77$210,925.61
198$1,867.43$856.75$1,010.69$210,068.86
199$1,867.43$860.85$1,006.58$209,208.01
200$1,867.43$864.98$1,002.46$208,343.03
201$1,867.43$869.12$998.31$207,473.91
202$1,867.43$873.29$994.15$206,600.62
203$1,867.43$877.47$989.96$205,723.15
204$1,867.43$881.68$985.76$204,841.47
205$1,867.43$885.90$981.53$203,955.57
206$1,867.43$890.15$977.29$203,065.43
207$1,867.43$894.41$973.02$202,171.01
208$1,867.43$898.70$968.74$201,272.32
209$1,867.43$903.00$964.43$200,369.31
210$1,867.43$907.33$960.10$199,461.98
211$1,867.43$911.68$955.76$198,550.31
212$1,867.43$916.05$951.39$197,634.26
213$1,867.43$920.44$947.00$196,713.82
214$1,867.43$924.85$942.59$195,788.98
215$1,867.43$929.28$938.16$194,859.70
216$1,867.43$933.73$933.70$193,925.97
217$1,867.43$938.20$929.23$192,987.77
218$1,867.43$942.70$924.73$192,045.07
219$1,867.43$947.22$920.22$191,097.85
220$1,867.43$951.76$915.68$190,146.09
221$1,867.43$956.32$911.12$189,189.78
222$1,867.43$960.90$906.53$188,228.88
223$1,867.43$965.50$901.93$187,263.37
224$1,867.43$970.13$897.30$186,293.24
225$1,867.43$974.78$892.66$185,318.47
226$1,867.43$979.45$887.98$184,339.02
227$1,867.43$984.14$883.29$183,354.88
228$1,867.43$988.86$878.58$182,366.02
229$1,867.43$993.60$873.84$181,372.42
230$1,867.43$998.36$869.08$180,374.07
231$1,867.43$1,003.14$864.29$179,370.92
232$1,867.43$1,007.95$859.49$178,362.98
233$1,867.43$1,012.78$854.66$177,350.20
234$1,867.43$1,017.63$849.80$176,332.57
235$1,867.43$1,022.51$844.93$175,310.06
236$1,867.43$1,027.41$840.03$174,282.66
237$1,867.43$1,032.33$835.10$173,250.33
238$1,867.43$1,037.28$830.16$172,213.05
239$1,867.43$1,042.25$825.19$171,170.81
240$1,867.43$1,047.24$820.19$170,123.57
241$1,867.43$1,052.26$815.18$169,071.31
242$1,867.43$1,057.30$810.13$168,014.01
243$1,867.43$1,062.37$805.07$166,951.64
244$1,867.43$1,067.46$799.98$165,884.19
245$1,867.43$1,072.57$794.86$164,811.62
246$1,867.43$1,077.71$789.72$163,733.91
247$1,867.43$1,082.87$784.56$162,651.03
248$1,867.43$1,088.06$779.37$161,562.97
249$1,867.43$1,093.28$774.16$160,469.69
250$1,867.43$1,098.52$768.92$159,371.17
251$1,867.43$1,103.78$763.65$158,267.39
252$1,867.43$1,109.07$758.36$157,158.33
253$1,867.43$1,114.38$753.05$156,043.94
254$1,867.43$1,119.72$747.71$154,924.22
255$1,867.43$1,125.09$742.35$153,799.13
256$1,867.43$1,130.48$736.95$152,668.65
257$1,867.43$1,135.90$731.54$151,532.76
258$1,867.43$1,141.34$726.09$150,391.42
259$1,867.43$1,146.81$720.63$149,244.61
260$1,867.43$1,152.30$715.13$148,092.31
261$1,867.43$1,157.82$709.61$146,934.49
262$1,867.43$1,163.37$704.06$145,771.11
263$1,867.43$1,168.95$698.49$144,602.17
264$1,867.43$1,174.55$692.89$143,427.62
265$1,867.43$1,180.18$687.26$142,247.44
266$1,867.43$1,185.83$681.60$141,061.61
267$1,867.43$1,191.51$675.92$139,870.10
268$1,867.43$1,197.22$670.21$138,672.88
269$1,867.43$1,202.96$664.47$137,469.92
270$1,867.43$1,208.72$658.71$136,261.19
271$1,867.43$1,214.51$652.92$135,046.68
272$1,867.43$1,220.33$647.10$133,826.35
273$1,867.43$1,226.18$641.25$132,600.16
274$1,867.43$1,232.06$635.38$131,368.11
275$1,867.43$1,237.96$629.47$130,130.15
276$1,867.43$1,243.89$623.54$128,886.25
277$1,867.43$1,249.85$617.58$127,636.40
278$1,867.43$1,255.84$611.59$126,380.56
279$1,867.43$1,261.86$605.57$125,118.70
280$1,867.43$1,267.91$599.53$123,850.79
281$1,867.43$1,273.98$593.45$122,576.81
282$1,867.43$1,280.09$587.35$121,296.72
283$1,867.43$1,286.22$581.21$120,010.50
284$1,867.43$1,292.38$575.05$118,718.12
285$1,867.43$1,298.58$568.86$117,419.55
286$1,867.43$1,304.80$562.64$116,114.75
287$1,867.43$1,311.05$556.38$114,803.70
288$1,867.43$1,317.33$550.10$113,486.37
289$1,867.43$1,323.64$543.79$112,162.72
290$1,867.43$1,329.99$537.45$110,832.74
291$1,867.43$1,336.36$531.07$109,496.38
292$1,867.43$1,342.76$524.67$108,153.61
293$1,867.43$1,349.20$518.24$106,804.42
294$1,867.43$1,355.66$511.77$105,448.75
295$1,867.43$1,362.16$505.28$104,086.60
296$1,867.43$1,368.68$498.75$102,717.91
297$1,867.43$1,375.24$492.19$101,342.67
298$1,867.43$1,381.83$485.60$99,960.83
299$1,867.43$1,388.45$478.98$98,572.38
300$1,867.43$1,395.11$472.33$97,177.27
301$1,867.43$1,401.79$465.64$95,775.48
302$1,867.43$1,408.51$458.92$94,366.97
303$1,867.43$1,415.26$452.18$92,951.71
304$1,867.43$1,422.04$445.39$91,529.67
305$1,867.43$1,428.85$438.58$90,100.82
306$1,867.43$1,435.70$431.73$88,665.12
307$1,867.43$1,442.58$424.85$87,222.54
308$1,867.43$1,449.49$417.94$85,773.05
309$1,867.43$1,456.44$411.00$84,316.61
310$1,867.43$1,463.42$404.02$82,853.20
311$1,867.43$1,470.43$397.00$81,382.77
312$1,867.43$1,477.47$389.96$79,905.29
313$1,867.43$1,484.55$382.88$78,420.74
314$1,867.43$1,491.67$375.77$76,929.07
315$1,867.43$1,498.81$368.62$75,430.26
316$1,867.43$1,506.00$361.44$73,924.26
317$1,867.43$1,513.21$354.22$72,411.05
318$1,867.43$1,520.46$346.97$70,890.59
319$1,867.43$1,527.75$339.68$69,362.84
320$1,867.43$1,535.07$332.36$67,827.77
321$1,867.43$1,542.43$325.01$66,285.34
322$1,867.43$1,549.82$317.62$64,735.53
323$1,867.43$1,557.24$310.19$63,178.28
324$1,867.43$1,564.70$302.73$61,613.58
325$1,867.43$1,572.20$295.23$60,041.38
326$1,867.43$1,579.73$287.70$58,461.64
327$1,867.43$1,587.30$280.13$56,874.34
328$1,867.43$1,594.91$272.52$55,279.43
329$1,867.43$1,602.55$264.88$53,676.88
330$1,867.43$1,610.23$257.20$52,066.65
331$1,867.43$1,617.95$249.49$50,448.70
332$1,867.43$1,625.70$241.73$48,823.00
333$1,867.43$1,633.49$233.94$47,189.51
334$1,867.43$1,641.32$226.12$45,548.19
335$1,867.43$1,649.18$218.25$43,899.01
336$1,867.43$1,657.08$210.35$42,241.93
337$1,867.43$1,665.02$202.41$40,576.90
338$1,867.43$1,673.00$194.43$38,903.90
339$1,867.43$1,681.02$186.41$37,222.88
340$1,867.43$1,689.07$178.36$35,533.81
341$1,867.43$1,697.17$170.27$33,836.64
342$1,867.43$1,705.30$162.13$32,131.34
343$1,867.43$1,713.47$153.96$30,417.87
344$1,867.43$1,721.68$145.75$28,696.19
345$1,867.43$1,729.93$137.50$26,966.26
346$1,867.43$1,738.22$129.21$25,228.04
347$1,867.43$1,746.55$120.88$23,481.49
348$1,867.43$1,754.92$112.52$21,726.58
349$1,867.43$1,763.33$104.11$19,963.25
350$1,867.43$1,771.78$95.66$18,191.47
351$1,867.43$1,780.27$87.17$16,411.21
352$1,867.43$1,788.80$78.64$14,622.41
353$1,867.43$1,797.37$70.07$12,825.04
354$1,867.43$1,805.98$61.45$11,019.06
355$1,867.43$1,814.63$52.80$9,204.43
356$1,867.43$1,823.33$44.10$7,381.10
357$1,867.43$1,832.07$35.37$5,549.04
358$1,867.43$1,840.84$26.59$3,708.19
359$1,867.43$1,849.66$17.77$1,858.53
360$1,867.43$1,858.53$8.91$0.00

Updated

How to use

  1. Replace the example inputs with your loan and property figures.
  2. Select Calculate to update the estimate and any schedule.
  3. Change one assumption at a time, then compare the result with the earlier scenario.

How this calculation works

The engine constructs two schedules with identical principal and months. Only the note rate changes. It reports the monthly payment difference and lifetime interest difference, with both balance paths on one chart.

Rate effect = payment at original rate − payment at alternative rate

Worked example

Illustrative inputs — not a quote or a local average.

Loan amount
$320,000.00
Interest rate
6.5 %
New interest rate
5.75 %
Loan term
30 years

Comparison monthly P&I: $2,022.62. New monthly P&I: $1,867.43. Monthly payment reduction: $155.18.

Reading the result

This is useful for understanding a quote difference before considering fees. Read a negative reduction as an increase: the alternative rate can be higher than the first. For a clean comparison, use offers obtained for the same loan type and similar timing.

Before acting on the estimate

Actual offers can include different points, lender credits and closing charges. This calculator intentionally excludes those differences. Use the points calculator when paying for a rate reduction and the refinance calculator when replacing an existing loan.

Mortgage Points: Price the Rate Reduction — editorial illustration

Questions, answered

Should I use APR here?

No. Use note rates for payment arithmetic; APR measures a broader borrowing cost.

Does the lower rate always win?

Not necessarily once different upfront costs and holding periods are considered.

Read the guide

Mortgage Points: Price the Rate Reduction

See the methodology

Related calculators

Mortgage Recast Calculator

Estimate the lower required payment after a principal reduction without replacing your existing rate and remaining term.

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