Mortgage Comparison 15 Years vs. 30 Years

Which mortgage works best for your budget?
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Find out if you benefit from a shorter or longer term.

There's a huge difference between a 15-year and 30-year mortgage, and figuring out which is best for you can be a challenge. With a shorter 15-year mortgage, you will pay significantly less interest than a 30-year mortgage, but it's only good if you can afford the higher monthly payment. Use this calculator to run the numbers for both options.

Information and interactive calculators are made available to you as self-help tools for your independent use and are not intended to provide investment advice. We cannot and do not guarantee their applicability or accuracy in regards to your individual circumstances. All examples are hypothetical and are for illustrative purposes. We encourage you to seek personalized advice from qualified professionals regarding all personal finance issues.