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15 vs 30 Year Mortgage Comparison

FREE

Find out which mortgage term saves you the most money

Real Estate & Major Purchases

Inputs

Enter your information

Home Purchase

Enter as percentage (e.g., 20 for 20% = $160,000)

Interest Rates

Typically 0.5% lower

Additional Costs

Enter as percentage (e.g., 1.2 for 1.2% = $9,600 annual)

Financial Assumptions

Federal + State (e.g., 35 for 35%)

Expected return if investing the difference

Results

Fill in the inputs to see your results

Enter your data to calculate

How This Calculator Works

  • 1Enter your home price, down payment, and expected interest rates for both terms
  • 2Calculator compares monthly payments, total interest, and equity buildup
  • 3See opportunity cost analysis: what if you invested the payment difference?
  • 4Get personalized recommendation based on your financial situation
  • 5View 30-year projection of wealth under both scenarios

⚡Unlock Pro Features

  • ✓Upload loan estimate (LE) - AI auto-fills all terms and fees
  • ✓Ask AI Copilot: "Should I pay points to buy down my rate?"
  • ✓Compare physician mortgage loans (0% down) vs conventional
  • ✓Calculate break-even for refinancing to a different term
  • ✓Factor in PMI removal timeline for low down payment scenarios
  • ✓Multi-scenario comparison (different home prices, rates, terms)
  • ✓Include property appreciation by zip code (local market data)
  • ✓Export complete analysis for financial advisor or spouse
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