15 vs. 30-Year Mortgage Calculator
Side by side
Shorter loan payment
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Longer loan payment
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Interest saved with the shorter loan
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Extra cost per month
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| Shorter | Longer | Difference |
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Equity built year by year
Equity here is the loan principal you have paid off. It leaves out your down payment and any change in the home's value.
| Year | Shorter: balance | Shorter: equity | Longer: balance | Longer: equity | Equity gap |
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Results are estimates for educational purposes and are not financial, tax or legal advice.
Compare two mortgage terms for the same loan amount. See how much more the shorter loan costs each month, how much interest it saves and how fast it builds equity. Try the free amortization calculator to run your own numbers — everything is calculated in your browser and nothing you enter is stored or sent anywhere.