The difference between 30 and 15
Check out the calculators to determine your cost difference between 30 year and 15 year mortgages. The savings can really add up for those who can afford a 15 year mortgage on their real estate purchases. The total cost savings and time savings do result though in a higher monthly payment. Many find the 15 year loan to be a benefit for them as they try to navigate where they are at currently while planning for future expenses. Please not that often times a 15 year mortgage will come with a more favorable interest rate as well, make sure to enter the correct interest rates for each loan type so you are getting the most accurate information.
We hope that this can be of help!