Compare Options
15 vs. 30-Year Mortgage
See the true cost difference between a 15-year and 30-year mortgage — monthly payment, total interest, and what you'd save.
Loan Details
15-Year @ 6.5%
$3,484/mo
Principal & Interest only
Total Paid
$627,197
Total Interest
$227,197
Payoff Date
June 2041
30-Year @ 7%
$2,661/mo
Principal & Interest only
Total Paid
$958,036
Total Interest
$558,036
Payoff Date
June 2056
Interest Savings (15-Year vs 30-Year)
You Save
$330,838
in total interest with 15-year
The 15-year mortgage costs $823 more per month, but you own your home 15 years sooner and pay $330,838 less in interest.
Find Your Best Rate
Get Pre-Approved
Compare 15 and 30-year quotes from trusted South Florida lenders.
Which Should You Choose?
Choose 15-Year if...
You can comfortably handle the higher payment, want to build equity fast, and are focused on minimizing total interest.
Choose 30-Year if...
You want lower required payments, need cash flow flexibility, or plan to invest the payment difference in higher-yield assets.
15-Year rates are lower
Lenders typically offer 15-year rates 0.5%–0.75% below 30-year rates, amplifying your interest savings.