15 vs. 30-Year Mortgage: Which One Is Better for You?
2025-09-17
Shorter terms cut interest but raise the monthly payment. Longer terms lower payment but increase total interest—trade-offs depend on your cash flow and goals.
Monthly payment vs. total interest
15-year loans have higher monthly payments but significantly lower lifetime interest than 30-year loans.
Flexibility & prepayment
A 30-year term offers more flexibility; you can prepay when you have surplus cash.
Rule of thumb
Compare both using the calculator and stress-test your budget against rate changes or expenses.
