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The 15-year vs 30-year mortgage decision is one of the biggest financial choices homebuyers make. 15-year mortgages have higher monthly payments but dramatically lower total interest costs and faster equity building. 30-year mortgages offer payment flexibility but cost significantly more over time.
Enter the purchase price of the home.
Input your down payment amount (20% recommended).
Enter the mortgage interest rate (APR).
Choose loan duration (typically 15 or 30 years).
See complete PITI payment breakdown.
Adjust values to find the best mortgage.
Enter the purchase price of the home.
Input your down payment amount (20% recommended).
Enter the mortgage interest rate (APR).
Choose loan duration (typically 15 or 30 years).
See complete PITI payment breakdown.
Adjust values to find the best mortgage.
The 15-year vs 30-year mortgage decision is one of the biggest financial choices homebuyers make. 15-year mortgages have higher monthly payments but dramatically lower total interest costs and faster equity building. 30-year mortgages offer payment flexibility but cost significantly more over time.
The best choice depends on your individual financial situation, goals, and constraints. Use the calculators above to compare both options with your specific numbers.