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15 vs 30-Year Mortgage Calculator — Side-by-Side Comparison
Compare 15 and 30-year mortgages directly — monthly payment, total interest, and what you do with the payment difference.
15 vs 30-Year Mortgage Details
$400,000
$
6.37%
%
6.2%
%
Results
LiveInterest Saved With 15-Year
$282,518
30-Year Monthly Payment$2,494
15-Year Monthly Payment$3,419
Total Cost (30-year)$897,902
Total Cost (15-year)$615,384
30-Year Monthly Payment$2,494
15-Year Monthly Payment$3,419
Total Cost (30-year)$897,902
How to use
Change one assumption at a time to see what moves the answer most.
Frequently Asked Questions
Everything you need to know.
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Why This Matters
A 15-year mortgage on a $400,000 loan saves over $150,000 in interest versus a 30-year. But the higher monthly payment requires $800–$1,000 more per month. This calculator shows if you can afford it — and what investing the difference achieves.
How to Use It
- 1Enter loan amount and both interest rates (15 and 30-year)
- 2See side-by-side payment and total interest comparison
- 3Enter what you would invest from the payment difference
- 4See net wealth comparison — mortgage savings vs investment growth
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