15-year vs. 30-year mortgage calculator

There are advantages and disadvantages to both 15-year and 30-year home loans. 15-year loans have lower interest rates and will be paid off faster, but carry higher monthly payments.

Input your target home price, down payment and interest rate, and NerdWallet’s 15-year vs. 30-year mortgage calculator will generate the amount you can expect to pay with both types of loans.