Mortgage Calculators

15 vs. 30 Year Mortgage

Compare a 15-year and a 30-year mortgage on the same loan — the payment difference versus the interest you save.

Inputs

Loan amount

15-year rate

30-year rate

Estimates only. Change any value to recalculate instantly.

Interest saved with the 15-year $236,981 for $599.41 more per month

15-year payment $2,515.39

15-year total interest $152,770

30-year payment $1,915.98

30-year total interest $389,752

Total interest compared

15-year interest $153k
30-year interest $390k

Loan balance 15-year30-year

The 15-year costs $599 more each month but saves $236,981 in interest and frees you 15 years sooner.

Balance & cumulative interest by yearView table

Year	15-yr balance	30-yr balance	15-yr interest	30-yr interest
1	$287,172	$296,710	$17,357	$19,702
2	$273,567	$293,196	$33,936	$39,179
3	$259,136	$289,443	$49,690	$58,418
4	$243,831	$285,435	$64,570	$77,402
5	$227,598	$281,154	$78,522	$96,112
6	$210,381	$276,582	$91,489	$114,532
7	$192,120	$271,698	$103,413	$132,640
8	$172,753	$266,483	$114,230	$150,417
9	$152,211	$260,912	$123,873	$167,838
10	$130,423	$254,963	$132,270	$184,880
11	$107,316	$248,609	$139,347	$201,518
12	$82,807	$241,823	$145,023	$217,723
13	$56,812	$234,575	$149,213	$233,467
14	$29,242	$226,833	$151,828	$248,717
15	$0	$218,566	$152,770	$263,441
16	$0	$209,735	$152,770	$277,603
17	$0	$200,304	$152,770	$291,163
18	$0	$190,231	$152,770	$304,082
19	$0	$179,473	$152,770	$316,316
20	$0	$167,983	$152,770	$327,818
21	$0	$155,712	$152,770	$338,538
22	$0	$142,605	$152,770	$348,423
23	$0	$128,607	$152,770	$357,417
24	$0	$113,657	$152,770	$365,458
25	$0	$97,689	$152,770	$372,482
26	$0	$80,635	$152,770	$378,420
27	$0	$62,421	$152,770	$383,197
28	$0	$42,967	$152,770	$386,735
29	$0	$22,190	$152,770	$388,950
30	$0	$0	$152,770	$389,752

A worked example

Running this tool on current national benchmarks (Federal Reserve / Freddie Mac via FRED (St. Louis Fed)) — swap in your own numbers to see how the result moves.

Inputs

Loan amount: $300,000
15-year rate: 5.90%
30-year rate: 6.60%

Interest saved with the 15-year

$236,981

for $599.41 more per month

15-year payment$2,515.39
15-year total interest$152,770
30-year payment$1,915.98

How the interest saved with the 15-year changes with loan amount

Holding the other inputs at the example above, here is how the result moves as loan amount changes.

Loan amount	Interest saved with the 15-year	15-year payment
$150,000	$118,491	$1,257.70
$225,000	$177,736	$1,886.54
$300,000	$236,981	$2,515.39
$450,000	$355,472	$3,773.09
$600,000	$473,962	$5,030.78

30-year fixed mortgage rate, 2019–2026

Source: Freddie Mac PMMS via FRED. Annual averages; latest weekly reading shown.

Common questions

Is this calculator free, and do I need to sign up?

Yes and no — it is completely free and asks for no account or personal details. Every calculation happens in your browser, so nothing you type is stored or sent to us.

How accurate are the results?

The math is exact for the inputs you give it, but the defaults are national benchmarks — your real rate, fees, taxes, and insurance will differ. Treat the result as a close estimate to refine with a real quote.