15-Year vs. 30-Year Mortgage Calculator

Compare the monthly commitment and total interest on two fixed-rate terms using separate quoted rates.

Your estimate

15-year monthly P&I: $2,700.34
30-year monthly P&I: $2,022.62
Monthly payment difference: $677.72
Interest difference: $242,080.83
15-year total interest: $166,061.53
30-year total interest: $408,142.36

15-year loan30-year loan

Starting values are illustrative, not live quotes. Both loans start with the same balance. The two quoted rates may differ. Figures exclude closing fees, escrow, mortgage insurance and investment returns.

Payment schedule

Payment schedule
Month	Payment	Principal	Interest	Balance
1	$2,700.34	$1,100.34	$1,600.00	$318,899.66
2	$2,700.34	$1,105.84	$1,594.50	$317,793.81
3	$2,700.34	$1,111.37	$1,588.97	$316,682.44
4	$2,700.34	$1,116.93	$1,583.41	$315,565.51
5	$2,700.34	$1,122.51	$1,577.83	$314,443.00
6	$2,700.34	$1,128.13	$1,572.21	$313,314.87
7	$2,700.34	$1,133.77	$1,566.57	$312,181.10
8	$2,700.34	$1,139.44	$1,560.91	$311,041.67
9	$2,700.34	$1,145.13	$1,555.21	$309,896.53
10	$2,700.34	$1,150.86	$1,549.48	$308,745.67
11	$2,700.34	$1,156.61	$1,543.73	$307,589.06
12	$2,700.34	$1,162.40	$1,537.95	$306,426.66
13	$2,700.34	$1,168.21	$1,532.13	$305,258.46
14	$2,700.34	$1,174.05	$1,526.29	$304,084.41
15	$2,700.34	$1,179.92	$1,520.42	$302,904.49
16	$2,700.34	$1,185.82	$1,514.52	$301,718.67
17	$2,700.34	$1,191.75	$1,508.59	$300,526.92
18	$2,700.34	$1,197.71	$1,502.63	$299,329.21
19	$2,700.34	$1,203.70	$1,496.65	$298,125.52
20	$2,700.34	$1,209.71	$1,490.63	$296,915.80
21	$2,700.34	$1,215.76	$1,484.58	$295,700.04
22	$2,700.34	$1,221.84	$1,478.50	$294,478.20
23	$2,700.34	$1,227.95	$1,472.39	$293,250.25
24	$2,700.34	$1,234.09	$1,466.25	$292,016.16
25	$2,700.34	$1,240.26	$1,460.08	$290,775.89
26	$2,700.34	$1,246.46	$1,453.88	$289,529.43
27	$2,700.34	$1,252.69	$1,447.65	$288,276.74
28	$2,700.34	$1,258.96	$1,441.38	$287,017.78
29	$2,700.34	$1,265.25	$1,435.09	$285,752.53
30	$2,700.34	$1,271.58	$1,428.76	$284,480.95
31	$2,700.34	$1,277.94	$1,422.40	$283,203.01
32	$2,700.34	$1,284.33	$1,416.02	$281,918.68
33	$2,700.34	$1,290.75	$1,409.59	$280,627.93
34	$2,700.34	$1,297.20	$1,403.14	$279,330.73
35	$2,700.34	$1,303.69	$1,396.65	$278,027.04
36	$2,700.34	$1,310.21	$1,390.14	$276,716.84
37	$2,700.34	$1,316.76	$1,383.58	$275,400.08
38	$2,700.34	$1,323.34	$1,377.00	$274,076.74
39	$2,700.34	$1,329.96	$1,370.38	$272,746.78
40	$2,700.34	$1,336.61	$1,363.73	$271,410.17
41	$2,700.34	$1,343.29	$1,357.05	$270,066.88
42	$2,700.34	$1,350.01	$1,350.33	$268,716.87
43	$2,700.34	$1,356.76	$1,343.58	$267,360.12
44	$2,700.34	$1,363.54	$1,336.80	$265,996.58
45	$2,700.34	$1,370.36	$1,329.98	$264,626.22
46	$2,700.34	$1,377.21	$1,323.13	$263,249.01
47	$2,700.34	$1,384.10	$1,316.25	$261,864.91
48	$2,700.34	$1,391.02	$1,309.32	$260,473.89
49	$2,700.34	$1,397.97	$1,302.37	$259,075.92
50	$2,700.34	$1,404.96	$1,295.38	$257,670.96
51	$2,700.34	$1,411.99	$1,288.35	$256,258.97
52	$2,700.34	$1,419.05	$1,281.29	$254,839.92
53	$2,700.34	$1,426.14	$1,274.20	$253,413.78
54	$2,700.34	$1,433.27	$1,267.07	$251,980.51
55	$2,700.34	$1,440.44	$1,259.90	$250,540.07
56	$2,700.34	$1,447.64	$1,252.70	$249,092.43
57	$2,700.34	$1,454.88	$1,245.46	$247,637.55
58	$2,700.34	$1,462.15	$1,238.19	$246,175.39
59	$2,700.34	$1,469.46	$1,230.88	$244,705.93
60	$2,700.34	$1,476.81	$1,223.53	$243,229.12
61	$2,700.34	$1,484.20	$1,216.15	$241,744.92
62	$2,700.34	$1,491.62	$1,208.72	$240,253.30
63	$2,700.34	$1,499.08	$1,201.27	$238,754.23
64	$2,700.34	$1,506.57	$1,193.77	$237,247.66
65	$2,700.34	$1,514.10	$1,186.24	$235,733.55
66	$2,700.34	$1,521.67	$1,178.67	$234,211.88
67	$2,700.34	$1,529.28	$1,171.06	$232,682.60
68	$2,700.34	$1,536.93	$1,163.41	$231,145.67
69	$2,700.34	$1,544.61	$1,155.73	$229,601.05
70	$2,700.34	$1,552.34	$1,148.01	$228,048.72
71	$2,700.34	$1,560.10	$1,140.24	$226,488.62
72	$2,700.34	$1,567.90	$1,132.44	$224,920.72
73	$2,700.34	$1,575.74	$1,124.60	$223,344.98
74	$2,700.34	$1,583.62	$1,116.72	$221,761.36
75	$2,700.34	$1,591.54	$1,108.81	$220,169.83
76	$2,700.34	$1,599.49	$1,100.85	$218,570.34
77	$2,700.34	$1,607.49	$1,092.85	$216,962.85
78	$2,700.34	$1,615.53	$1,084.81	$215,347.32
79	$2,700.34	$1,623.61	$1,076.74	$213,723.71
80	$2,700.34	$1,631.72	$1,068.62	$212,091.99
81	$2,700.34	$1,639.88	$1,060.46	$210,452.11
82	$2,700.34	$1,648.08	$1,052.26	$208,804.03
83	$2,700.34	$1,656.32	$1,044.02	$207,147.71
84	$2,700.34	$1,664.60	$1,035.74	$205,483.10
85	$2,700.34	$1,672.93	$1,027.42	$203,810.18
86	$2,700.34	$1,681.29	$1,019.05	$202,128.89
87	$2,700.34	$1,689.70	$1,010.64	$200,439.19
88	$2,700.34	$1,698.15	$1,002.20	$198,741.04
89	$2,700.34	$1,706.64	$993.71	$197,034.41
90	$2,700.34	$1,715.17	$985.17	$195,319.24
91	$2,700.34	$1,723.75	$976.60	$193,595.49
92	$2,700.34	$1,732.36	$967.98	$191,863.13
93	$2,700.34	$1,741.03	$959.32	$190,122.10
94	$2,700.34	$1,749.73	$950.61	$188,372.37
95	$2,700.34	$1,758.48	$941.86	$186,613.89
96	$2,700.34	$1,767.27	$933.07	$184,846.62
97	$2,700.34	$1,776.11	$924.23	$183,070.51
98	$2,700.34	$1,784.99	$915.35	$181,285.52
99	$2,700.34	$1,793.91	$906.43	$179,491.60
100	$2,700.34	$1,802.88	$897.46	$177,688.72
101	$2,700.34	$1,811.90	$888.44	$175,876.82
102	$2,700.34	$1,820.96	$879.38	$174,055.86
103	$2,700.34	$1,830.06	$870.28	$172,225.80
104	$2,700.34	$1,839.21	$861.13	$170,386.59
105	$2,700.34	$1,848.41	$851.93	$168,538.18
106	$2,700.34	$1,857.65	$842.69	$166,680.53
107	$2,700.34	$1,866.94	$833.40	$164,813.59
108	$2,700.34	$1,876.27	$824.07	$162,937.31
109	$2,700.34	$1,885.66	$814.69	$161,051.66
110	$2,700.34	$1,895.08	$805.26	$159,156.58
111	$2,700.34	$1,904.56	$795.78	$157,252.02
112	$2,700.34	$1,914.08	$786.26	$155,337.94
113	$2,700.34	$1,923.65	$776.69	$153,414.28
114	$2,700.34	$1,933.27	$767.07	$151,481.01
115	$2,700.34	$1,942.94	$757.41	$149,538.08
116	$2,700.34	$1,952.65	$747.69	$147,585.42
117	$2,700.34	$1,962.41	$737.93	$145,623.01
118	$2,700.34	$1,972.23	$728.12	$143,650.78
119	$2,700.34	$1,982.09	$718.25	$141,668.69
120	$2,700.34	$1,992.00	$708.34	$139,676.70
121	$2,700.34	$2,001.96	$698.38	$137,674.74
122	$2,700.34	$2,011.97	$688.37	$135,662.77
123	$2,700.34	$2,022.03	$678.31	$133,640.74
124	$2,700.34	$2,032.14	$668.20	$131,608.60
125	$2,700.34	$2,042.30	$658.04	$129,566.30
126	$2,700.34	$2,052.51	$647.83	$127,513.79
127	$2,700.34	$2,062.77	$637.57	$125,451.02
128	$2,700.34	$2,073.09	$627.26	$123,377.93
129	$2,700.34	$2,083.45	$616.89	$121,294.48
130	$2,700.34	$2,093.87	$606.47	$119,200.61
131	$2,700.34	$2,104.34	$596.00	$117,096.27
132	$2,700.34	$2,114.86	$585.48	$114,981.41
133	$2,700.34	$2,125.43	$574.91	$112,855.98
134	$2,700.34	$2,136.06	$564.28	$110,719.92
135	$2,700.34	$2,146.74	$553.60	$108,573.18
136	$2,700.34	$2,157.48	$542.87	$106,415.70
137	$2,700.34	$2,168.26	$532.08	$104,247.44
138	$2,700.34	$2,179.10	$521.24	$102,068.33
139	$2,700.34	$2,190.00	$510.34	$99,878.33
140	$2,700.34	$2,200.95	$499.39	$97,677.38
141	$2,700.34	$2,211.95	$488.39	$95,465.43
142	$2,700.34	$2,223.01	$477.33	$93,242.41
143	$2,700.34	$2,234.13	$466.21	$91,008.28
144	$2,700.34	$2,245.30	$455.04	$88,762.98
145	$2,700.34	$2,256.53	$443.81	$86,506.45
146	$2,700.34	$2,267.81	$432.53	$84,238.64
147	$2,700.34	$2,279.15	$421.19	$81,959.50
148	$2,700.34	$2,290.54	$409.80	$79,668.95
149	$2,700.34	$2,302.00	$398.34	$77,366.95
150	$2,700.34	$2,313.51	$386.83	$75,053.45
151	$2,700.34	$2,325.07	$375.27	$72,728.37
152	$2,700.34	$2,336.70	$363.64	$70,391.67
153	$2,700.34	$2,348.38	$351.96	$68,043.29
154	$2,700.34	$2,360.13	$340.22	$65,683.16
155	$2,700.34	$2,371.93	$328.42	$63,311.24
156	$2,700.34	$2,383.79	$316.56	$60,927.45
157	$2,700.34	$2,395.70	$304.64	$58,531.75
158	$2,700.34	$2,407.68	$292.66	$56,124.06
159	$2,700.34	$2,419.72	$280.62	$53,704.34
160	$2,700.34	$2,431.82	$268.52	$51,272.52
161	$2,700.34	$2,443.98	$256.36	$48,828.54
162	$2,700.34	$2,456.20	$244.14	$46,372.34
163	$2,700.34	$2,468.48	$231.86	$43,903.86
164	$2,700.34	$2,480.82	$219.52	$41,423.04
165	$2,700.34	$2,493.23	$207.12	$38,929.81
166	$2,700.34	$2,505.69	$194.65	$36,424.12
167	$2,700.34	$2,518.22	$182.12	$33,905.90
168	$2,700.34	$2,530.81	$169.53	$31,375.09
169	$2,700.34	$2,543.47	$156.88	$28,831.62
170	$2,700.34	$2,556.18	$144.16	$26,275.44
171	$2,700.34	$2,568.96	$131.38	$23,706.47
172	$2,700.34	$2,581.81	$118.53	$21,124.66
173	$2,700.34	$2,594.72	$105.62	$18,529.95
174	$2,700.34	$2,607.69	$92.65	$15,922.25
175	$2,700.34	$2,620.73	$79.61	$13,301.52
176	$2,700.34	$2,633.83	$66.51	$10,667.69
177	$2,700.34	$2,647.00	$53.34	$8,020.69
178	$2,700.34	$2,660.24	$40.10	$5,360.45
179	$2,700.34	$2,673.54	$26.80	$2,686.91
180	$2,700.34	$2,686.91	$13.43	$0.00

Updated September 9, 2026

How to use

Replace the example inputs with your loan and property figures.
Select Calculate to update the estimate and any schedule.
Change one assumption at a time, then compare the result with the earlier scenario.

How this calculation works

The same balance is amortized over 180 and 360 monthly installments. The shorter term repays principal more quickly. Rate inputs are separate because a real quote may price the terms differently.

Compare payment(P, short rate, 180) with payment(P, long rate, 360)

Worked example

Illustrative inputs — not a quote or a local average.

Loan amount: $320,000.00
15-year interest rate: 6 %
Interest rate: 6.5 %

15-year monthly P&I: $2,700.34. 30-year monthly P&I: $2,022.62. Monthly payment difference: $677.72.

Reading the result

Read the payment difference as a commitment your budget would need to sustain. Then read the lifetime interest difference. The comparison assumes each loan is kept until its scheduled payoff; it does not assume the longer-term borrower invests the monthly difference.

Before acting on the estimate

A shorter term is not automatically the best choice for every household. Compare cash reserves, income stability and other debt commitments. If you plan to make voluntary extra payments on a longer term, model those payments with the extra-payment calculator.