About Compare2Loans

Compare2Loans is a free side-by-side loan comparison tool — see total interest, monthly payment, and break-even points across two loan offers in one view. No signups, no paywalls, no data collection. Just the numbers and the context you need to decide between two real quotes.

A brief history

Compare2Loans started as a small calculator built to answer a recurring personal question: when two lenders quote different rates, terms, and fees, which loan actually costs less? The math itself is well established, but most loan calculators only show a single loan at a time, which makes it hard to compare offers without juggling spreadsheets.

The tool grew out of that frustration. It now puts both loans on a single screen, with synchronized amortization schedules and charts so the differences in interest paid, payoff timing, and crossover points are visible at a glance. The goal has always been the same: let two real loan quotes argue with each other in plain math, not marketing copy.

How the math is verified

The amortization engine uses the standard fixed-rate loan formula — monthly payment derived from principal, periodic interest rate, and term in months — with each month's interest, principal, and remaining balance computed from the prior month's balance. Results are cross-checked against published bank loan disclosures and amortization tables from primary lender documents. APR-style comparisons account for term plus rate plus fees, not just the headline interest rate.

Calculator logic and reference values are reviewed periodically. I also rely on reader feedback — borrowers, mortgage brokers, and finance students who spot an edge case, a rounding inconsistency, or a place where the explanation could be clearer. Those reports have caught real issues over the years, and I'd rather fix an error than defend one. If you find something that looks wrong, please email me.

A note on appropriate use

Compare2Loans is built for education and first-pass loan shopping. It does not constitute financial advice. It does not model the tax deductibility of mortgage interest, jurisdiction-specific closing costs, prepayment penalties unique to a particular lender, or changes in variable-rate loans. For decisions that affect your personal finances, use this tool as a starting point and consult a qualified financial advisor or loan officer.

About the author

Hi, I'm Jimmy Raymond. I built Compare2Loans alongside the other calculators in this network while working through problems in school at New Mexico Tech and the University of New Mexico, where I earned a B.S. in Environmental Engineering and a B.S. in Computer Science. The two degrees are what made the site possible — engineering gave me the math and dimensional-analysis foundation, and computer science gave me the tools to turn formulas into software that someone else can pick up and use in thirty seconds.

In the years since, my professional work has taken me through safety-critical aerospace and space systems, real-time embedded software, and full-stack web development. I've shipped code to the standards used for aircraft, medical devices, and nuclear systems — contexts where “almost right” isn't right. That discipline shapes how this calculator is built: the formula has to be correct, the assumptions have to be stated, the units have to work out, and the limits of the tool have to be honest.

I'm based in Albuquerque, New Mexico.

Contact

Email me at aj@ajdesigner.com for corrections, calculator requests, or general feedback. You can also find me on LinkedIn.

— Jimmy