Mortgage Comparison Worksheet

Compare 3 lender offers side by side — payments auto-calculated, printable on Letter

Offer 1

Offer 2

Offer 3

How to Use This Worksheet

Step 1: Collect three loan estimates

Ask each lender for a written Loan Estimate on the same day. Enter the lender name, the quoted interest rate, APR, points, and any fees. The worksheet auto-calculates the monthly payment (principal + interest) and the total interest over the loan term.

Step 2: Compare total cost, not just the rate

A lower rate with high fees can cost more than a slightly higher rate with low fees. Compare the APR and total interest columns, and check prepayment penalties and rate-lock terms before you decide. The reference rates below are national averages as of August 11, 2026 — your offers may differ.

Step 3: Print and take it to your closing

Click the print button to get a clean letter-size sheet with all three offers side by side. Keep it with your loan documents so you can confirm the numbers at closing match what you were quoted.

Reference national average rates (retrieved 2026-08-11)

ProductZillow / YahooBankrateLendingTree
30-year fixed6.59%6.78%6.74%
15-year fixed5.97%6.13%
20-year fixed6.32%
5/1 ARM6.52%6.34%
30-year refinance6.63%6.90%7.05%

National averages only — your rate depends on credit, down payment, loan type and lender. Use the worksheet to compare the actual offers you receive.

Official Standards & Authoritative Sources

Bankrate

Current mortgage & refinance rates (retrieved 2026-08-11)

bankrate.com/mortgages/mortgage-rates

Zillow via Yahoo Finance

National average mortgage rates (retrieved 2026-08-11)

finance.yahoo.com/personal-finance/mortgages

LendingTree

30-year fixed purchase & refinance averages (2026-08)

lendingtree.com/home/mortgage/30-year-mortgage-rates

Freddie Mac

Why comparing lenders can save money

freddiemac.com

CFPB

Mortgage shopping resources & loan estimate explainer

consumerfinance.gov

Frequently Asked Questions

Why should I compare mortgage offers instead of taking the first quote?
Lenders set rates based on their own pricing strategy, not just the market. Shopping with 3 to 5 lenders can save thousands over the life of the loan — research cited by Freddie Mac shows shopping can save over $1,000 a year. A 0.25% rate difference adds tens of thousands of dollars in interest over 30 years.
What is the difference between the interest rate and the APR?
The interest rate is the cost of borrowing the principal. The APR (annual percentage rate) includes the rate plus lender fees and points, giving a more complete picture of the loan's true cost. When comparing offers, compare APRs — not just rates.
How does this worksheet calculate monthly payments?
It uses the standard US amortization formula M = P × [r(1+r)^n] / [(1+r)^n − 1], where P is principal, r is the monthly rate and n is the number of monthly payments. You enter each offer's rate and term, and the worksheet fills in the monthly payment and total interest automatically.
Are the rates on this page current?
The reference rates shown (30-year fixed ≈ 6.59%, 15-year ≈ 5.97%, retrieved August 11, 2026) are national averages from Zillow/Bankrate/LendingTree. Your personal rate depends on credit score, down payment, loan type and lender — that is exactly why you use the worksheet to compare the offers you actually receive.
Should I compare rates on the same day?
Yes. Mortgage rates change daily, so collect loan estimates from all lenders on the same day for an apples-to-apples comparison. The worksheet includes a date field to record when each offer was quoted.

Disclaimer:

All calculations are approximate for planning purposes only. This tool does not provide official financial, legal, or tax advice. All financial decisions should be verified with a qualified mortgage lender or financial advisor.