Compare mortgage rates provided by your lender against current market rates from the last week. Calculate true costs with your credit score, total loan amount, interest rate, loan term, closing costs and rate buydowns. See if you’re getting a competitive deal or need to consider getting a few more quotes.
Unlike basic mortgage calculators that only show monthly payments, this tool provides comprehensive cost analysis—the same approach mortgage brokers use to evaluate whether a loan offer is truly competitive.
Step 1: Enter Your Loan Estimate Details Input the key figures from your official Loan Estimate: loan amount, interest rate, loan term, and all closing costs (origination fees, points, lender charges, and third-party fees).
Step 2: We Compare Against Market Benchmarks We pull current market rates for your loan type, amount, and term to show how your lender’s offer stacks up against what’s available today.
Step 3: Calculate Rate Buydown Scenarios Want to see if paying points makes sense? We model different buydown options, showing:
The Result: A clear verdict showing whether your Loan Estimate is competitive, overpriced, or an excellent deal—plus specific recommendations on negotiation opportunities and whether rate buydowns make financial sense for your situation.
This mortgage calculator is in BETA – please report any bugs, issues with the logic, or suggestions for improvement to Scott@biggerpocketsmoney.com.