Comparing Mortgage Terms
A shorter term costs more each month and far less over the life of the loan.
The same loan at the same rate looks very different over 15 years than over 30. This compares two terms side by side so you can see what the shorter payment buys you.
The loan
First option
Second option
Side by Side
Total interest paid
This calculator is provided for informational and educational purposes only. The results are hypothetical, are based solely on the figures you enter and the assumptions stated on this page, and do not account for taxes, fees, or your individual circumstances unless specifically noted. They are not a projection or a guarantee of future results, and they are not tax, legal, or accounting advice. Nothing on this page is an offer or a solicitation to buy any product. Please consult a qualified tax or legal professional about your situation. Nothing you enter is transmitted or stored. All figures remain in your browser and are cleared when you close this page. Shorter term loans sometimes carry a slightly different interest rate than longer ones. Enter the rate actually quoted for each term for an accurate comparison. Property taxes, insurance, and mortgage insurance are not included.
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