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Loan comparison calculator
Compare up to three hard money, bridge or fix and flip loan offers on the same deal. Enter each term sheet’s rate, points, fees, interest basis, minimum interest, extension and exit fees, and see which offer is really cheapest if you pay it off in 3, 6, 9, 12 or 18 months.
Illustrative estimate from the numbers you entered. Not an offer or commitment to lend; actual terms are set by the lender after underwriting. Business-purpose loans on non-owner-occupied investment property only.
Next step
Have a term sheet? Let the lenders in our network compete for it.
Send the deal and a person reads it. Your calculator numbers are copied into the form, so there is nothing to retype. If it is a deal the lenders in our network can do, you get an indicative range and a list of what they need. If it is not, we tell you quickly.
- No application fee, no upfront fee, no obligation.
- Business-purpose loans only: investment property held in an LLC or other entity, never owner-occupied.
- Programs available in 40 states.
Easy Lending USA is not a lender or a mortgage broker. We introduce real estate investors to independent private lenders, who make every credit decision.
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Why the lowest rate is not always the cheapest loan
On a short-term investor loan the rate is only one line of the cost. Points are paid once at closing, so they weigh heavily on a short hold. Minimum interest charges months you may not use. Dutch interest charges you for rehab money the lender has not released. Extension fees and exit fees land at the end. Change the payoff month and the cheapest offer can change too.
Total cost of an offer = interest for the months held (or the minimum) + points + lender fees + draw fees + extension fees + exit fee
Worked example
Three offers on a $300,000 loan repaid after 6 months:
| Offer | Terms | Cost at 6 months |
|---|---|---|
| A | 11%, 2 points, $1,500 fees | $24,000 |
| B | 10%, 3 points, $2,500 fees | $26,500 |
| C | 12.5%, no points, $995 fees, 1% exit fee | $22,745 |
The offer with the highest rate is the cheapest at six months, and the one with the lowest rate is the most expensive. Hold the same loans for 18 months and the order changes: the calculator shows the month each crossover happens.
What to look for on a term sheet
- Rate and points, and whether the points are paid at closing or rolled into the loan.
- Interest basis: on the full loan (Dutch) or only on money drawn.
- Minimum interest or a prepayment clause on a short-term loan.
- Draw and inspection fees per draw, and how fast draws are paid.
- Extensions: the fee, how many are allowed, and whether the rate changes.
- Exit or release fees charged at payoff.
- Loan-to-cost and loan-to-ARV caps, which set the cash you need to close.
Loan comparison questions
How do I compare two hard money loan offers?
Price both on the same loan amount and the same hold time, including every fee: interest, points, lender fees, draw fees, extension fees and exit fees. Compare the total cost, not the rate, and check it at a longer hold too in case the project runs late.
Is a lower rate with more points better?
Only if you hold the loan long enough. Points are paid once, so a lower rate with more points usually wins on long holds and loses on short ones. The calculator shows the month where the two cross.
What is minimum interest on a hard money loan?
A clause that charges a set number of months of interest even if you repay earlier, for example three months. On a quick flip it can make a cheap-looking offer the most expensive.
What is an exit fee?
A fee, usually a percentage of the loan, charged when the loan is repaid. Some lenders offer no points at closing and collect an exit fee instead.
Can you beat my term sheet?
Send it with the deal. The lenders in our network see it, and if one of them can do better on the total cost, you will hear about it. If none can, we tell you. There is no fee to submit, and we are paid by the lender only when a loan closes.
More investor calculators
Need the cash to close and the full cost of one loan in detail? Use the hard money loan calculator or the bridge loan calculator. All tools are on the calculators page.
Results are illustrative estimates based on the numbers you enter. They are not an offer or commitment to lend. Actual loan amounts, rates and fees are set by the lender after underwriting. Easy Lending USA is not a lender or a mortgage broker; we introduce real estate investors to independent private lenders. Business-purpose loans on non-owner-occupied investment property only.