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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:

Downpayment :

Loan APR:

Loan Term:

PMI (%):

Closing costs (if financed in loan):

Other Ownership Costs

Property taxes ($):

Homeowner insurance ($):

Monthly HOA fees ($):

Your Mortgage Payments

All-in monthly payment:

Principal & Interest:

Taxes, Insurance, PMI & HOA:

Amount Borrowed (exclusive of closing cost):

Amount Borrowed (inclusive of closing cost):

Total Interest Expense:

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