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 Pennsylvania Public, Private and Charter Schools: Compare them using these top-rated, comprehensive reports.   Schools in Doylestown, Buckingham and New Hope

Selling Your Home >A Disappointed Seller Many home sellers are disappointed by the first offer they receive. For example, when your agent calls to say that she has an offer on your home, your adrenaline might start flowing profusely. You get really excited, but your happy bubble bursts when you are presented with the contract. It's just not enough! The buyers asked for your new washing machine, and they also want to postpone the closing for three months. You don't see how it can work! Before rejecting any offer on your property, you should consider making a counter offer. Rarely does an offer look the way it would if you had written it yourself. Consider the good and bad points of the offer, and work with the agents to find a middle ground that you and buyers can live with. You may have to go back and forth several times, and there will probably be compromises on both sides. Unless you are lucky enough to be selling in a strong sellers' market, the buyers will expect to do some bargaining. With a little patience, you and your agent can create a "win-win" situation for you and the buyers. See All Tips In The "Selling Your Home" Category > See Complete Library Of Hundreds Of Tips In 30+ Categories >

Q  What is the legal term used to describe the right of the U. S. government to condemn private land for public use? A  Right of Eminent Domain allows the government to confiscate private land by paying full market value for the property. See More Real Estate Trivia >

Henri and Jeri Gutner Keller Williams Real Estate 2003 South Easton Road, Suite 108 Doylestown, PA 18901 Phone: 215-345-5454 henrigutner@NUMBER1EXPERT.com www.FindHouses4me.com is brought to you by Henri and Jeri Gutner NUMBER1EXPERTS™ in real estate for Doylestown, Buckingham and New Hope, Pennsylvania Read Henri and Jeri Gutner'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.