QUOTE COMPARISON WORKSHEET
Compare borrowing costs
Put two hypothetical quotes on equal footing. See the interest, fees, and payment pressure before you decide.
No account or credit check. Inputs stay in this tab; they are not stored or sent to Shawn.
Make the assumptions match.
Run a comparison to see total interest plus fees, monthly interest-only estimates, and a higher-rate scenario.
What this calculator assumes
The full amount is drawn on day one and stays outstanding. Rates stay constant for the comparison period; monthly interest is balance × annual rate ÷ 12. All entered fees are paid separately and included once. The comparison excludes principal payments, compounding, daily accrual differences, taxes, and any charges you have not entered. It is not an APR calculation.
The stress scenario adds two percentage points immediately; it is not a forecast. Your agreement may have different payment requirements, rate limits, or a later repayment period. Both scenarios still owe the entire starting principal at the end.
Read the terms behind the numbers.
How to read a HELOC rate quote before comparing offers
Turn a HELOC quote into a useful comparison: identify the rate formula, borrowing assumptions, required payments, fees, and unanswered questions.
3 min read Read guide Understand the priceCompare HELOC margins using the same index and date
Normalize two HELOC quotes to a common index date, then test floors, discounts, and fees before deciding which margin is more useful.
3 min read Read guide Plan the paymentStress-test a HELOC rate against your monthly budget
Test a HELOC at higher rates, planned principal payments, and lower income. Find the spending limit your budget can support before borrowing.
3 min read Read guide