15 vs 30-Year Mortgage

Should I get a 15-year or a 30-year mortgage?

Rates generally are lower for a 15-year mortgage, but typically, payments are higher because the loan is for fewer years. This calculator compares a 15-year to a 30-year mortgage based on the loan amount and interest rate that you provide.

House price:

15 YR FRM

30 YR FRM

Downpayment :

15 YR FRM

30 YR FRM

Loan APR:

15 YR FRM

30 YR FRM

Loan Term:

15 YR FRM

30 YR FRM

PMI (%):

15 YR FRM

30 YR FRM

Closing costs (if financed in loan):

15 YR FRM

30 YR FRM

Other Ownership Costs

Property taxes ($):

15 YR FRM

30 YR FRM

Homeowner insurance ($):

15 YR FRM

30 YR FRM

Monthly HOA fees ($):

15 YR FRM

30 YR FRM

Your Mortgage Payments

All-in monthly payment:

15 YR FRM

30 YR FRM

Principal & Interest:

15 YR FRM

30 YR FRM

Taxes, Insurance, PMI & HOA:

15 YR FRM

30 YR FRM

Amount Borrowed (exclusive of closing cost):

15 YR FRM

30 YR FRM

Amount Borrowed (inclusive of closing cost):

15 YR FRM

30 YR FRM

Total Interest Expense:

15 YR FRM

30 YR FRM

Generate Report?

Loan origination date: