Mortgage Comparison Calculator
Compare two or three mortgage offers over the horizon that matters to you — including fees, cashback and introductory rates, not just the headline rate.
- Free
- No signup
- Private browser calculation
| Metric | Scenario A | Scenario B |
|---|---|---|
| Initial payment | ₹1,932.90 | ₹1,860.22 |
| Net cost over 5 years | ₹85,771 | ₹87,832 |
| Balance after 5 years | ₹2,69,796 | ₹2,68,218 |
| Total interest (full term) | ₹2,79,871 | ₹2,58,066 |
| Total fees | ₹0 | ₹8,000 |
| Full-term net cost | ₹2,79,871 | ₹2,66,066 |
| Time to pay off | 25 years | 25 years |
Scenario A has the lowest estimated cost over 5 years based on the entered rates and fees; scenario B has the lowest estimated full-term cost.
Scenario B has the lowest initial payment; scenario A has the lowest fees.
These estimates are for general planning only and are not mortgage approval, lending, tax, legal or financial advice.
Assumptions and conventions
- Per-period rate = nominal annual rate ÷ payments per year (standard quoted-rate convention). Reducing-balance method.
- Net cost over a period = payments + fees − cashback − principal repaid, so scenarios with different balances stay comparable.
- After an introductory period, the payment is recalculated on the remaining balance over the remaining term.
- Monthly payments are assumed for all scenarios.
- Values are calculated at full precision and rounded for display; columns may differ from totals by a small rounding amount.
Why compare over a chosen period
Most borrowers refinance, move, or reach the end of a fixed deal long before the full term ends — so the mortgage that is cheapest over 30 years is often not the cheapest over the 2, 5 or 10 years you will actually hold it. This tool computes each scenario's net cost over the comparison period you select: payments made plus fees, minus cashback, minus the principal you repaid. Counting repaid principal keeps scenarios with different balances honest — money that reduced your balance is not a cost.
Introductory rates are modelled explicitly: the payment is recalculated when the intro period ends, and both the initial and post-introductory payments are shown.
Formula
Each scenario runs through the full amortisation engine (with a rate change at the end of any introductory period). Net cost over the period = payments made + upfront fees + ongoing fees − cashback − principal repaid.
Full-term net cost = total interest + total fees − cashback. The crossover month is the first month at which the ranking of the two leading scenarios flips — before it, the scenario with lower fees is typically ahead; after it, the lower rate wins.
Assumptions
- Rates are fixed within each segment (introductory and standard); no live or predicted rates are used.
- When an introductory period ends, the payment is recalculated on the remaining balance over the remaining scheduled term.
- Upfront fees are paid at the start; ongoing fees accrue monthly; cashback is received at the start.
- Net cost counts principal repaid as money kept, not money spent.
- Per-period rate follows the selected country's convention.
Content and formulas reviewed on 2026-08-06. See our methodology for how calculations are built and tested.
Worked example
Scenario A: 300,000 at 6% over 25 years with no fees. Scenario B: the same loan at 5.6% with an 8,000 upfront fee. B's payment is about 74 lower per month.
Over 2 years, A is ahead — B's fee far exceeds two years of payment savings. Over the full term, B is ahead by tens of thousands. The calculator reports the crossover month (around six years in) so you can match the choice to how long you expect to keep the mortgage.
Frequently asked questions
Why does the winner change with the comparison period?
Fees are paid upfront while rate savings accrue slowly. A low-rate, high-fee deal loses early and wins late; the crossover month is where the ranking flips. Choose the period that matches how long you realistically expect to keep the mortgage.
What does “net cost” include?
Everything the mortgage consumed over the period: payments plus fees, minus cashback — and minus the principal you repaid, because that money became equity rather than cost.
How are introductory rates handled?
The schedule uses the introductory rate for its period, then recalculates the payment at the standard rate on the remaining balance over the remaining term — both payments are shown per scenario.
Can I compare different terms or frequencies?
Yes. Scenarios are independent; the net-cost-over-period method keeps them comparable even when terms differ, because remaining balances are accounted for through principal repaid.
Which scenario should I pick?
The calculator deliberately never says “best.” It reports which scenario has the lowest cost on each measure — initial payment, selected-period cost, full-term cost, fees — based on the rates and fees you entered. Your horizon and cash-flow needs decide which measure matters most.
These estimates are for general information only and are not financial, tax, legal, or investment advice. Rates, fees, and lending rules vary by lender and country. Actual costs and outcomes may differ from the projections shown.