Mortgage Comparison Calculator
Compare up to 3 loan scenarios side-by-side. See which option saves you the most money. Compare 15 vs 30 year, FHA vs conventional, or different down payments.
Common Comparisons
15-Year vs 30-Year Mortgage
30-year: Lower monthly payment, more flexibility, pay more interest. 15-year: Higher monthly payment, pay off faster, save massive interest (often 50%+ savings).
Example: $400K @ 6.5% → 30yr pays $511K interest, 15yr pays $223K interest
FHA vs Conventional
FHA: 3.5% down, easier credit approval, mandatory PMI for life (if <10% down). Conventional: 3-20% down, stricter credit, PMI drops at 20% equity.
Compare total cost including PMI to find the best option
Different Down Payments
Higher down payment = lower monthly payment, less interest, no PMI (if ≥20%). Lower down payment = keep more cash for emergencies, but higher monthly cost + PMI.
Sweet spot often 10-20% down depending on your cash reserves
Rate Shopping
0.25% rate difference = ~$50/mo on $400K loan. 0.5% rate difference = ~$100/mo, $36K over 30 years. Always compare multiple lender offers.
CMG Home Loans competitive rates - schedule consultation to compare
Get Personalized Loan Comparison
Let CMG Home Loans compare actual loan options for your situation with exact rates and terms.
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