15 Year vs 30 Year Mortgage

15 year mortgage

Pay your mortgage off sooner, offers better rates but usually has a higher monthly payment due each month.

30 year mortgage

You have a longer period to repay your home loan, generally, payments are going to be lower than a shorter term loan. 

Thinking about buying a home but not sure what type of loan term works best for you?

Use this calculator to get an estimate of what your monthly payment would be if you were to get a 15-year mortgage or a 30-year mortgage.

The calculator is for estimate purposes only and does not take all factors into consideration when giving amounts.