CLEARBORROW · TOOL · PUBLISHED NOVEMBER 12, 2026
Compare two loan offers side by side
A lower interest rate is not always cheaper: an origination fee taken from the loan raises the real cost. Enter both offers to compare the cash you receive, the payment, the total cost and an APR estimate that includes the fee. In our default example, an 11% loan with an 8% fee costs $2,586 on $9,200 received, while a 14% no-fee loan costs $2,304 on $10,000.
On this page
Compare your offers
Offer A
Offer B
| Offer A | Offer B | |
|---|---|---|
| Cash you receive | — | — |
| Monthly payment | — | — |
| Total of payments | — | — |
| Total cost (payments − cash received) | — | — |
| Estimated APR incl. fee | — | — |
Assumes the fee is deducted from the loan, a fixed rate and equal monthly payments. Our APR estimate matches Upgrade’s published example (13.94% rate, 5% fee, 36 months → 17.59% APR) but lenders’ disclosed APR is the official figure.
The default example
| Offer A: 11%, 8% fee | Offer B: 14%, no fee | |
|---|---|---|
| Cash received | $9,200.00 | $10,000.00 |
| Monthly payment (36 months) | $327.39 | $341.78 |
| Total cost | $2,585.94 | $2,303.95 |
| APR incl. fee | 16.86% | 14.00% |
Our arithmetic. Offer A looks cheaper by rate, but Offer B has the lower APR and lower total cost.
How to compare fairly
- Use the same loan amount and term for both offers if you can.
- Compare APR, which includes the fee — the CFPB-style measure lenders must disclose.
- Check cash received: a fee taken from the loan means less money in hand.
- Look at the total of payments for the full term.
- Confirm there is no prepayment penalty if you may repay early.
See also our guide to comparing loan offers and the origination fee calculator.
How we checked the formula
With Upgrade’s published example — $10,000, 13.94% rate, 5% fee, 36 months — the calculator gives a $341.48 payment and 17.59% APR, the same as Upgrade’s disclosure (Upgrade ↗).
Questions
Which matters more, rate or APR?
APR, because it includes the origination fee. The rate alone ignores the fee.
Why is my payment higher when I receive less?
Interest is charged on the full loan amount, including the fee deducted from your cash.
Can I use this for payday loans?
Use the payday APR calculator for single-payment loans.
Sources and limits
Sources checked November 12, 2026. Calculators give estimates, not offers; lenders calculate exact payments, APRs and approval. This is general information, not financial or legal advice. How we use sources.