Free Loan Comparison Worksheet Printable
Compare loan offers side by side before signing anything. Line up the interest rate, term, monthly payment, and total cost for each option in one place.
PDF · Free, no signup · US Letter and A4
| Lender | Interest Rate | Term | Monthly Payment | Total Cost |
|---|---|---|---|---|
Your entries are saved in this browser only, so you can come back to them. Nothing is uploaded.
How to Use This Printable
- List each lender or offer you're considering.
- Fill in the interest rate and term for each.
- Note the monthly payment from each offer.
- Enter the total cost of each loan from the lender disclosure. If it is not stated, add up every payment and any upfront or origination fees, so you are comparing true cost and not just the monthly number.
Why total cost matters more than the monthly payment
A longer term almost always produces a lower monthly payment, but it usually means paying more in interest overall. Comparing the Total Cost column, not just Monthly Payment, is what actually reveals the cheaper loan.
Getting an apples-to-apples comparison
Ask each lender for the same term length where possible, since comparing a 3-year loan against a 6-year loan on monthly payment alone hides most of the real difference in cost.
What to do once you've decided
Keep the completed sheet with your loan documents. It's a useful record if you ever want to check whether refinancing later would actually save money against the original terms.
Ideas for Using This Printable
- Use it for auto loans, personal loans, or mortgage offers alike.
- Don't skip the Total Cost column, the lowest monthly payment isn't always the cheapest loan overall.
- Keep the completed sheet with your loan documents once you decide.
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FAQ
- How many offers fit on one sheet?
- 6 rows, enough to compare most people's shortlist of loan offers.
- Where do I get the Total Cost figure?
- Use the lender's disclosed total of payments or total loan cost where it is available. If it is not stated, multiplying the monthly payment by the number of payments gets you close, but it may leave out origination fees, closing costs, or a balloon payment, so check the disclosure for those.
- What should I actually compare between offers?
- The total cost over the full term first, then the monthly payment against your budget. A lower monthly payment often means a longer term and more total interest.
- Should I include a pre-payment penalty in the comparison?
- Yes, note it in the Total Cost column or in a margin note, since a penalty can offset the savings from paying a loan off early.
- What if one lender's offer changes after I apply?
- Update that row and recompute Total Cost before deciding; an initial quote isn't always the final offer.