Welcome > Resources > Mortgage Calculators > 15 vs. 30 Year Mortgages ...

15 vs. 30 Yr Mortgages

Determining which mortgage term is right for you can be a challenge. With a 15 year mortgage you will pay significantly less interest, but only if you can afford the higher monthly payment. Use this calculator to compare these two mortgage terms, and let us help you decide which term is better for you.

Definitions

Mortgage amount

Original or expected balance for your mortgage.

Interest rate

Annual interest rate for your mortgage. Interest rates are generally lower for shorter term mortgages.

Marginal tax rate

This is your combined state and federal tax rate. This is used to calculate your potential income tax savings by deducting your mortgage interest.

Monthly payment

Monthly principal and interest payment (PI). Both 30 year and 15 year mortgages are shown.

Total payments

Total of all monthly payments over the full term of the mortgage. Both 30 year and 15 year mortgages are shown.

Total interest

Total of all interest paid over the full term of the mortgage. Both 30 year and 15 year mortgages are shown.

The mortgage calculators are provided by KJE Computer Solutions, LLC and made available to NUMBER1EXPERT as self-help tools for your independent use and are not intended to provide investment advice. We can't guarantee their applicability or accuracy in regards to your individual circumstances. All examples are hypothetical and are for illustrative purposes. We encourage you to seek personalized advice from qualified professionals regarding all personal finance issues.

"A model of how the Internet can facilitate the process of deciding where to send your children to school" - America's Best School Profiles by The Heritage Foundation California Public, Private and Charter Schools: Compare them using these top-rated, comprehensive reports.   Schools in Sebastopol, Graton and Occidental

Relocation >Enhancing Your Home A moderate climate can help your home sell, but wherever you live, you can enhance your home's hidden potential by bringing the outside into your home. Minor remodeling projects can be tailored to suit your taste and your budget. Study the placement of your home on the property. A small window can be made larger to let more light into a room and expand the view. You can create an entertainment area for guests by installing a sliding glass door which opens onto your garden or adding a patio or deck. The addition of a skylight in a dark room can make a dramatic improvement. You can also consider ways to enhance the outdoor features of your home and integrate them into the living space of your home. Such improvements can often greatly increase the value of your property. See All Tips In The "Relocation" Category > See Complete Library Of Hundreds Of Tips In 30+ Categories >

Q  What famous $40+ million home has a 60-foot pool with underwater music and a 20-car garage? A  The home of Bill Gates, co-founder of Microsoft, features the latest futuristic computer technology. See More Real Estate Trivia >

Cary Fargo & Doug Schaeffer Prudential California Realty 7300 Healdsburg Avenue Sebastopol, CA. 95472 Cary's Phone: 707-824-4507 Doug's Phone: 707-824-4502 Fax: 707-829-5028 Cary's Email: cfargo@sonic.net Doug's Email: doug3@sonic.net No one knows Sonoma County like Cary Fargo and Doug Schaeffer. They specialize in Country Properties. Call or email Cary or Doug today! www.dougschaeffer.com is brought to you by Cary Fargo & Doug Schaeffer NUMBER1EXPERT™ in real estate for Sebastopol, Graton and Occidental, California, County Properties, Residential Read Cary Fargo & Doug Schaeffer's Privacy Guarantee, Terms of Service, and Free & Without Obligation Pledge

NUMBER1EXPERT®
© Best Image Marketing and/or its clients.
All rights reserved. All information deemed reliable but not guaranteed.