Which is Better: 15 or 30-year Loan?

Loan Comparison: Which is better – a 30 or 15 year mortgage?

This loan comparison calculator will compare a 30 and 15 year mortgage. If you’d like, you can also enter your own mortgage terms. As you will see, a 15 year mortgage will allow you substantial interest savings. However, the increased monthly payment might not be affordable. Consult a financial advisor for a more specific estimate of the benefits to you.

Place your cursor in the fields and fill in the requested information to the best of your knowledge. Use the tab key on your keyboard to move through the form. Once the required fields are completed, the form will automatically populate with the information you have requested.

Note: This calculator is provided to give you a general idea. We cannot guarantee the accuracy or the applicability to your situation. Please consult a qualified professional. If you use a 0% interest value, the calculator will automatically use a default value of .001. Please be aware that the values may vary slightly.