Three offers, one honest ranking. Fees get folded into a true effective APR so a "low rate plus points" can't hide from a "higher rate, no fees."
| Offer | Payment | Total interest | Fees | Total cost | Effective APR |
|---|
Effective APR answers: "what rate would a no-fee loan need to cost the same?" It's the fair way to compare offers with different fees. Total cost favors shorter terms; effective APR is term-neutral.
This loan comparison calculator ranks up to three offers honestly by folding fees and points into a true effective APR. That way a tempting low headline rate that hides costly points can't disguise itself as the better deal.
Effective APR rolls a loan's fees and points into its interest rate, expressing the all-in annual cost so two offers with different fee structures can be compared directly.
Points and fees are upfront costs. A lower rate bought with points may still be more expensive overall, which effective APR exposes.
Compare effective APRs, not headline rates, and make sure the loan amount and term match. The calculator handles this automatically.