With move-up sellers buying their next home
Sellers moving up with large equity often consider a shorter term. Show the payment difference and interest saved so they can decide whether to put the extra toward a bigger down payment or a shorter loan.
Buyer tools · Move-up buyers
15 or 30 years? A calculator for the term decision
Move-up buyers with strong equity often ask whether to take a 15-year loan. This 15 vs 30 year mortgage calculator answers the question with two numbers: how much more the 15-year costs each month, and how much interest it saves. It takes three inputs, so it suits a quick conversation on the phone as well as a listing page.
- Included on: every plan
- Runs in English and Spanish
- Leads arrive with all 6 results attached
Is a 15-year mortgage better than a 30-year?
A 15-year mortgage usually has a lower rate and much less total interest, but a substantially higher monthly payment. A 30-year keeps the payment lower and leaves room in the budget. Which is better depends on the buyer's cash flow, goals and other uses for the money.
When you'd send it
When to put the 15 vs 30 Year Mortgage Calculator in front of people
With empty-nesters downsizing
Buyers planning to be mortgage-free by retirement want to see a 15-year payment. Compare it with the 30-year so they understand the trade-off.
In a 'financing your next home' email
For past clients approaching a move, a short email with this calculator and the HELOC calculator covers their two main financing questions.
What your visitor sees
Three inputs: the loan amount, the 15-year rate and the 30-year rate. The buyer sees the interest saved with the 15-year, both monthly payments, both total interest figures and the extra monthly cost of the 15-year.
The lead you receiveA financially engaged buyer thinking long term
You'll receive the Loan Amount, both rates, the 15-Year and 30-Year Monthly Payment, Interest Saved with 15-Year and Extra Monthly Cost of 15-Year. These buyers usually have equity or savings and are thinking about structure, which makes them good candidates for a strategy conversation.
Follow-up that works
- Ask about their plans: retirement timing, other goals, how long they'll stay.
- Mention that a 30-year with extra payments can shorten the term while keeping flexibility.
- Refer them to a lender for current rates on both terms.
- What your visitor enters
- Loan Amount
- their input
- 15-Year Rate (%)
- their input
- 30-Year Rate (%)
- their input
- What they see (and what you receive)
- Interest Saved with 15-Year
- their result
- 15-Year Monthly Payment
- their result
- 30-Year Monthly Payment
- their result
- 15-Year Total Interest
- their result
- 30-Year Total Interest
- their result
- Contact and source
- Name, email, phone
- with consent
- Page and campaign
- UTM · referrer
On a $300,000 loan, the 15-year would be about $780 more a month and would save roughly $190,000 in interest. Is being mortgage-free sooner a priority, or would you rather keep the payment flexible?
Before and after
Your page before and after this calculator
BeforeAfter
Before: Ask your lender about terms
- Buyers postpone the decision
- No sense of the trade-off in dollars
- You aren't part of the conversation
After: Compare 15 and 30 years
- The extra monthly cost in one number
- The interest saved in another
- You help frame the decision
Reading the results
What each result means for your follow-up
The same figures your visitor sees arrive in your lead record. Here's how to read the ones that matter.
- Extra Monthly Cost of 15-Year
- How much more the 15-year payment is each month. It's the number that decides whether the shorter term fits the budget.
- Interest Saved with 15-Year
- Total interest difference over the life of each loan. It's large, but it assumes both loans run to term, which many don't.
- 15-Year Monthly Payment
- Principal and interest on the shorter term. Taxes and insurance are the same on both, so the difference is all principal and interest.
What can go wrong
Mistakes that cost agents the lead
Using the same rate for both terms
15-year rates are usually lower than 30-year rates. Entering the same rate understates the 15-year's advantage. Use current rates for each term.
Ignoring flexibility
A 30-year with voluntary extra payments can achieve similar savings while keeping a lower required payment. Mention it so buyers see all their options.
Comparing totals over different stays
Total-interest comparisons assume the loan runs its full term. If the buyer will move in seven years, compare interest over seven years instead.
Inside the 15 vs 30 Year Mortgage Calculator
What your visitor enters (3)
Loan Details
- Loan Amount
Interest Rates
- 15-Year Rate (%)
- 30-Year Rate (%)
Field names are shown as they appear in the calculator's English interface.
What they see (and what you receive) (6)
- Interest Saved with 15-Year
- 15-Year Monthly Payment
- 30-Year Monthly Payment
- 15-Year Total Interest
- 30-Year Total Interest
- Extra Monthly Cost of 15-Year
Definitions shown in the calculator (8)
- 15-year mortgage
- A fixed-rate loan repaid in 180 monthly payments. The payment is higher than on a 30-year loan because principal is repaid twice as fast, but lenders usually offer a lower rate and far less interest accrues. This calculator computes its payment and total interest at the 15-year rate you enter.
- 30-year mortgage
- A fixed-rate loan repaid in 360 monthly payments, the most common U.S. home loan. Spreading repayment over twice as long lowers the monthly payment, but the balance stays higher for longer and the rate is usually higher, so total interest is much larger. The calculator uses the 30-year rate you enter.
- Loan term
- The number of years over which the loan is scheduled to be repaid in equal monthly payments. A longer term lowers each payment but keeps the balance outstanding longer, so total interest rises. This calculator holds the loan amount constant and compares the two most common terms side by side.
- Interest rate
- The annual percentage the lender charges on the unpaid balance, not including fees. Shorter terms usually carry a lower rate because the lender’s money is at risk for less time. This calculator takes a separate rate for each term, so enter the rate actually quoted for each one.
- Total interest
- The sum of all interest paid over the full term if the loan runs to maturity with regular payments: total payments minus the loan amount. The calculator shows it for each term; the gap between the two is the main cost of choosing the lower 30-year payment.
- Interest saved with 15-year
- The 30-year loan’s total interest minus the 15-year loan’s total interest. It combines two effects: the shorter repayment period and, usually, the lower rate. The figure assumes both loans are kept to maturity with no extra payments or refinancing. Paying off either loan early would change both totals.
- Extra monthly cost of 15-year
- How much more the 15-year payment is each month compared with the 30-year payment. It is the budget trade-off for the interest savings. The calculator compares principal and interest only; taxes and insurance are the same under either term and are left out.
- Amortization
- Paying off a loan through equal periodic payments that cover interest first and then principal. On a 30-year schedule, early payments are mostly interest and equity builds slowly; on a 15-year schedule a larger share of each payment reduces principal from the start. Both payments here come from the standard amortization formula.
Calculator disclaimer
Estimates only. Real savings depend on the rates you're actually offered for each term. Confirm both quotes with a licensed lender.
Calculator results are estimates for illustration, not Loan Estimates, pre-approvals or offers of credit.
Terms on this page
Questions by topic
15 vs 30 Year Mortgage Calculator: questions agents ask
Why is the 15-year rate usually lower?
Lenders take less risk over a shorter term, so 15-year loans are generally priced lower than 30-year loans. The difference changes with the market, so enter current rates for each.
Does the comparison include taxes and insurance?
No. It compares principal and interest, because taxes and insurance are the same regardless of term. For a full payment, use the mortgage calculator.
Can I compare 20 and 30 years?
This calculator compares 15 and 30. For other terms, run the mortgage calculator twice, or use the extra payment options to see how a shorter payoff works on a 30-year loan.
Which buyers should consider a 15-year?
Buyers with comfortable cash flow, solid emergency savings and a goal of owning outright sooner, such as move-up buyers with equity or buyers near retirement. The decision is theirs and their lender's.
Is a 15-year mortgage riskier?
The higher required payment reduces flexibility if income drops. Some buyers prefer a 30-year and make extra payments when they can. Present both paths.
How do I bring this up without giving financial advice?
Present it as a comparison, not a recommendation: 'Here's what each term costs.' Refer buyers to a lender or financial adviser for advice on which suits them.
Where does this calculator fit best?
Move-up and downsizing pages, past-client newsletters and second-home listings. It's less relevant on first-time buyer pages, where the 30-year payment usually decides.
Is it on every plan?
Yes. It's one of the buyer tools available on every plan, including the free Agent plan.
Does it work in Spanish?
Yes. It runs in English and Spanish.
Pairs well with
Calculators that pair well with this one
Put the 15 vs 30 Year Mortgage Calculator on your next listing
Included on every plan, including the free Agent plan. No card needed.