15 Vs. 30 Year Mortgage Calculator
Developed to educate, our 15 Vs. 30 year mortgage calculator will show you an amortized schedule of the cost difference between financing a home for an additional 15 years. Let's face it, when considering a mortgage loan program, one of the most decisive factors in how much the loan will cost you is the actual number of months you finance your home.
Comparing the difference between a 15 year mortgage and a 30 year mortgage can give you a very real look as to whether or not you can afford the PITI payments associated with a shorter payment term. When using our 15 yr Vs. 30 yr loan calculator, you'll be able to easily grasp the necessary monthly payment difference. Should you decide to go with a 30 year loan initially, you can always pay the difference between the longer and shorter payment term monthly, effectively reducing your mortgage and amount of interest you pay as you go.
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