15 vs 30 year Mortgage Comparison Calculator

The 30-year, fixed-rate mortgage has long been the most popular among American homebuyers. But in recent years, an increasing number of people have opted for 15-year loans. The shorter term means you'll pay less in interest charges over the life of the loan. But your monthly payments will also be higher. This calculator will help you figure the short-term and long-term costs associated with 15-year and 30-year fixed-rate mortgages.