15-year vs. 30-year Mortgage Calculator

What would your mortgage payment be for a 15 vs. a 30-year loan?

The difference between 15 year mortgages and 30 year mortgages is more than just how long it'll take to pay off your loan. If you choose a 15-year-mortgage at a fixed rate, you'll end up with a larger monthly payment than if you had chosen a 30-year-mortgage, but you'll pay less in interest over the course of your loan.

A 30-year-mortgage is just the opposite: your monthly payments will be smaller, but you'll pay more in interest over the course of the loan. 

Use the mortgage calculator to see which type of loan might be right for you.

15 Year Term

30 Year Term

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