30 Year To 15 Year Mortgage Calculator



Welcome to the 30 Year To 15 Year Mortgage Calculator, a powerful tool designed to assist you in making informed decisions about your mortgage. This calculator allows you to easily compare the impact of different mortgage terms on your financial future.

How to Use

  1. Input the principal amount in the designated field.
  2. Enter the interest rate, ensuring accuracy for precise results.
  3. Select the mortgage term: either 30 years or 15 years.
  4. Click the “Calculate” button to see the results.


The calculator employs the standard mortgage formula to determine monthly payments:


  • is the monthly mortgage payment.
  • is the principal loan amount.
  • is the monthly interest rate (annual rate divided by 12).
  • is the total number of payments (loan term in months).


Let’s consider a $300,000 mortgage with a 4% annual interest rate.

For a 30-year term:

For a 15-year term:


Q: Why should I consider a 15-year mortgage over a 30-year mortgage?

A: A 15-year mortgage typically has a lower interest rate and results in substantial interest savings over the life of the loan.

Q: Will my monthly payments be higher with a 15-year mortgage?

A: Yes, monthly payments will be higher, but you’ll pay less interest over the life of the loan.

Q: Can I switch from a 30-year to a 15-year mortgage?

A: Some lenders allow refinancing, but it’s essential to consider associated costs and eligibility.


Choosing between a 30-year and a 15-year mortgage is a significant decision. This calculator empowers you to make informed choices based on your financial goals. Explore various scenarios and find the mortgage term that aligns with your objectives.

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