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 Florida Public, Private and Charter Schools: Compare them using these top-rated, comprehensive reports.   Schools in Panama City, Panama City Beach and Lynn Haven

Cosmetic Improvements >Improving To Sell Many homeowners wait until they are ready to put their home on the market before painting, planting flowers, and making other improvements to their homes. After completing these improvements, they may be so delighted with the results that they wish they had done the work on their home sooner in order to enjoy the changes. Whether you have recently purchased a home or have been settled in your home for several years, you should consider evaluating the condition of your house as if you planned to sell it soon. Maximize your home's "curb appeal" now, so that you will reap the benefits every time you pull into your driveway. Plant those flowers and bulbs and you will have your fresh flowers on your own dining room table. Add new window treatments to freshen the appearance of the main rooms. If your house needs an upgraded kitchen, go ahead with the renovation. You will enhance your whole neighborhood and experience the pleasure of living in a more beautiful and fully functional home. See All Tips In The "Cosmetic Improvements" Category > See Complete Library Of Hundreds Of Tips In 30+ Categories >

Q  What makes the structure of the Hoover Dam unusual? A  The Hoover Dam was built to last 2,000 years, and is constructed of concrete that will not be fully cured for another 500 years. See More Real Estate Trivia >

The Payne Group Keller Williams Success Realty 2110 W 23rd St. Panama City, FL 32404 850-890-0132 Fax: 850-392-1709 jeff.payne@kw.com The Payne Group takes the time to discover your wants and needs to ensure a seemless transaction in buying or selling real estate. www.knowpayneknowgain.com is brought to you by The Payne Group NUMBER1EXPERT™ in real estate for Panama City, Panama City Beach and Lynn Haven, Florida Read The Payne Group'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.