15-Year vs 30-Year Mortgage Calculator — Side-by-Side Comparison | MortgageCalc

Loan Details

Home Price

$

Down Payment

$

30-Year Rate

%

15-Year Rate ⓘ

%

State

Interest Savings with 15-Year

$0

But you pay $0/mo more each month

Side-by-Side Comparison

📅 30-Year Fixed

Monthly P&I	$0
Monthly Total (PITI)	$0
Total Interest Paid	$0
Total Loan Cost	$0
Payoff Date	—

📅 15-Year Fixed

Monthly P&I	$0
Monthly Total (PITI)	$0
Total Interest Paid	$0
Total Loan Cost	$0
Payoff Date	—

💡 Key Insights

📉 Balance Payoff Comparison

📊 Cumulative Interest Over Time

🤔 Which One is Right for You?

Choose 30-Year If...

You want lower monthly payments for more cash flow
You're investing the difference in stocks (historically 7-10% return)
You're early in your career and expect income to grow
You want flexibility — you can always pay extra
You have other debt (student loans, car) to pay first

Choose 15-Year If...

You can comfortably afford the higher payment
You want to be debt-free faster
You're close to retirement and want to own outright
You want the lower interest rate (saves 0.5-0.75%)
You value guaranteed savings over investment risk

Related Calculators