Question 1

Is there a free mortgage comparison spreadsheet for Excel and Google Sheets?

Accepted Answer

Yes. Use the comparison above to see results instantly in your browser, or download the free template. It is an .xlsx file that opens in Excel and imports into Google Sheets with File, then Import. It calculates the monthly payment, total interest, total cost and closing-cost break-even for up to 6 lenders.

Question 2

How do I compare mortgage offers side by side?

Accepted Answer

Request a Loan Estimate from each lender on the same day for the same loan amount and credit assumptions. Enter the rate, term, closing costs and mortgage insurance for each offer. Then compare the cost over the number of years you expect to keep the loan, not just the monthly payment.

Question 3

What should a mortgage comparison spreadsheet include?

Accepted Answer

At minimum: loan amount, interest rate, APR, term, monthly principal and interest, taxes, insurance, PMI, closing costs, total interest and a break-even point. This template covers all of those.

Question 4

How do I import the template into Google Sheets?

Accepted Answer

Download the .xlsx file, open Google Sheets, choose File, then Import, then Upload, and select the file. Pick Replace spreadsheet or Insert new sheet. The formulas, including PMT, carry over.

Question 5

Why does the cheapest monthly payment not always win?

Accepted Answer

A loan with a lower rate often carries higher fees or points. If you will sell or refinance before you recover those costs, the loan with the lower upfront cost is cheaper. The break-even column shows how many months it takes for a lower payment to pay back extra closing costs.

Question 6

How many mortgage offers should I compare?

Accepted Answer

At least three. Include a mix of lender types, such as a national lender, a credit union or local bank, and an online lender. Multiple mortgage inquiries within a 14 to 45 day window usually count as a single inquiry for credit scoring.

Question 7

Does the comparison handle ARMs or points?

Accepted Answer

The online comparison supports adjustable-rate loans: switch a loan to ARM, set the fixed period and the rate rise you want to assume at each annual adjustment (2/2/5 caps are applied), and it shows the reset and worst-case payments. The downloadable template compares fixed-rate offers. For points, add the cost to closing costs and use the lower rate.

Question 8

Can I share or print my comparison?

Accepted Answer

Yes. Use Copy share link to get a web address that restores your numbers, or Print / save as PDF for a clean one-page copy. The link contains your numbers in the address itself; nothing is stored on our servers.


Down payment %
Rate type
Interest rate %
Term (years)
Closing costs $
PMI / mo $
Loan amount	$405,000	$405,000	$360,000
Monthly P&I	$2,560	$2,494	$3,116
Total monthly payment	$3,390	$3,324	$3,756
Total interest (full term)	$516,555	$492,716	$200,921
Cost of borrowing, 7 yrs	$196,675	$194,063	$141,415
Balance left after 7 yrs	$366,186	$364,636	$233,652
Break-even vs lowest-fee loan	Baseline	5 yr 8 mo	Never

Column	Why it matters
Interest rate and APR	The rate sets your payment. APR folds in fees so offers on the same loan type are comparable.
Monthly P&I, taxes, insurance, PMI	The full monthly cost, not just principal and interest.
Closing costs and points	The upfront cost that a lower rate has to earn back.
Total interest	Shows why a 15-year loan costs far less overall despite the higher payment.
Break-even (months)	How long you must keep the loan before a lower rate beats a lower fee.
Years you plan to stay	A loan can be cheapest at 5 years and most expensive at 15.

Mortgage Comparison Spreadsheet

Compare your offers

Download the Excel and Google Sheets template

Use it in Excel

Use it in Google Sheets

What a good comparison spreadsheet tracks

Frequently Asked Questions