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.