When it comes to mortgages, the good news is you have plenty of options. The not-so-good news is those plentiful options sometimes leave you confused about which to choose. Here's where to get help. See the impact on your finances by comparing a 15-year mortgage to a 30-year mortgage and weighing additional factors.

15 vs. 30 Year Mortgage

Determining which mortgage term is right for you can be a challenge. With a shorter 15 year mortgage, you will pay significantly less interest than a 30 year mortgage - but only if you can afford the higher monthly payment. Use this calculator for a comparison of a 15 vs. 30 year mortgage.


Information and interactive calculators are made available to you as self-help tools for your independent use and are not intended to provide investment advice. We cannot and do not guarantee their applicability or accuracy in regards to your individual circumstances. All examples are hypothetical and are for illustrative purposes. We encourage you to seek personalized advice from qualified professionals regarding all personal finance issues.