HomeCasa Prompts

Compare loan offers: monthly payment, total cost and fine print

Compare two or more loan offers like for like: monthly payment, total interest and fees, APR, rate-rise scenarios for variable loans and the questions to ask the lender. Designed for ChatGPT, Claude, Gemini and Microsoft Copilot. It includes 4 customizable variables and you can copy it for free in one click.

Intermediate · Text · Pending editorial review

Designed for:

Prompt

Act as a financial educator who helps consumers read and compare loan offers critically, without selling any product.

Data:
- Offers (lender or label, amount, interest rate, APR, term, fixed or variable, origination fees, required insurance or other products): {{offers}}
- What the loan is for: {{purpose}}
- Maximum monthly payment I can comfortably afford: {{max_payment}}
- Do I plan to pay it off early?: {{early_payoff}}

If an offer is missing the APR, fees or term, do not assume it: mark it [FILL IN] and tell me what to ask the lender.

Deliverables:
1. A like-for-like comparison table: monthly payment, total interest, total fees and required add-ons, total cost and APR. Show the amortizing payment formula and say these are estimates.
2. A simple explanation of interest rate vs APR and why a low payment over a long term can cost more overall.
3. For any variable-rate offer, scenarios with the benchmark rate +1 and +2 points: new payment and total cost.
4. The impact of paying off early given each offer's prepayment penalty, if any.
5. An affordability check: payment vs my maximum and the margin left.
6. Red flags in the fine print and ten questions to ask the lender before signing.
7. Conclusion: which offer looks cheapest with this data, and which missing information could change the result.

Constraints:
- Do not invent rates, fees or terms.
- This is not financial advice: remind me to get the official loan disclosure and, for a large commitment, to consult an independent advisor.

Format: tables, short explanations and a final checklist.

How to use it

Ask each lender for the official loan estimate or disclosure and copy the figures from it. Check the payment with the lender's own calculator and use the final questions before you sign.

Usage example

Offers: Lender A $15,000 over 6 years, 8.5% rate, 9.2% APR, 2% origination fee; Lender B $15,000 over 5 years, 9.1% rate, 9.3% APR, no fees · Purpose: car · Max payment: $320.

Sample output

Like-for-like comparison ($15,000)

Lender A (6 yrs, 8.5%)Lender B (5 yrs, 9.1%)
Monthly payment$267$312
Total interest$4,201$3,726
Fees and add-ons$300 (2% origination)$0 + autopay from checking
Total cost$4,501$3,726
Stated APR9.2%9.3%
Margin vs your $320 max$53$8

Payment formula: M = P · r / (1 − (1 + r)⁻ⁿ), with r = rate / 12 and n = months. Rounded estimates.

Why the low payment is misleading

Lender A feels easier each month, but the extra year plus the fee costs about $775 more overall. B's APR is slightly higher even though its total cost is lower, so compare total cost and term, not just one percentage.

Affordability

B leaves only $8 of headroom: one tight month and it hurts. A leaves more breathing room at a higher price.

Ask before signing

  1. Is there a prepayment penalty? [FILL IN for each lender]
  2. Does B's rate change if autopay stops?
  3. Are any add-ons (GAP, credit insurance) optional?

Not financial advice: get each lender's official Truth in Lending disclosure. …

Key facts

Category
Finance · Scenario comparison
Output type
Text
Level
Intermediate
Designed for
ChatGPT, Claude, Gemini and Microsoft Copilot
Verified in
Pending editorial verification
Variables
Loan offers, Purpose, Maximum monthly payment and Early payoff
Language
English
Price
Free, no sign-up
Updated
Nov 7, 2026

Frequently asked questions

Which matters more, interest rate or APR?

For comparing offers, APR is usually more useful because it includes most fees. Still check the total cost in dollars and any required add-ons that may not be in the APR.

Why might the results differ from the lender's numbers?

Because of rounding, payment dates or bundled insurance. Use these figures to compare and always confirm the exact payment in the final loan documents.

What is this prompt for?

Compare two or more loan offers like for like: monthly payment, total interest and fees, APR, rate-rise scenarios for variable loans and the questions to ask the lender.

Which AI tools does it work with?

It is designed for ChatGPT, Claude, Gemini and Microsoft Copilot. We have not verified it in these tools yet, so results may vary between them.

How do I customize the prompt?

Click “Customize” and fill in the variables (Loan offers, Purpose, Maximum monthly payment and Early payoff). The text updates instantly and you can then copy it in one click. Values are stored only in your browser.

Do I need experience to use it?

It is intermediate: it helps to know the topic so you can provide good context and review the result critically.

Is this prompt free?

Yes. Every HomeCasa Prompts prompt is free, with no sign-up or subscription. You can also use them in professional projects.

Can I trust the AI output?

Treat it as a high-quality draft: always check data, figures and important claims before publishing or making decisions.

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