How do I compare 15-year vs 30-year mortgage?

Enter the same loan amount and rate for both scenarios but set Scenario A to 15 years and Scenario B to 30 years. The calculator shows the monthly payment difference, total interest saved with a 15-year term, and total lifetime cost of each option.

How do I compare two different interest rates?

Keep all fields identical except the interest rate. Enter the higher rate in Scenario A and the lower rate in Scenario B (or vice versa). The results show the monthly savings and total lifetime interest difference between the two rates.

What is break-even in a mortgage comparison?

Break-even is the number of months it takes for accumulated monthly savings to offset a higher upfront cost. For example, if buying points costs $3,000 upfront but saves $100/month, the break-even is 30 months. If you plan to stay longer, paying points is worth it.

Should I choose a lower rate with higher closing costs or a higher rate with no points?

Use the upfront cost field to model this exact scenario. Enter the points cost as the upfront cost for the lower-rate scenario. If your break-even is shorter than how long you plan to stay in the home, the lower rate wins on total cost.

Mortgage Comparison Calculator

Compare two loan scenarios side by side — different rates, terms, or loan amounts. See monthly payment difference, lifetime interest savings, and which option costs less overall.

Reference Rates

30yr Fixed 6.3% 15yr Fixed 5.65% Prime Rate 6.75% Fed Funds 3.64%

Apr 16, 2026 · FRED / Federal Reserve

A Scenario A

B Scenario B

Loan Amount

Interest Rate

Loan Term

Upfront Cost

Shared Monthly Costs (Optional)

Property Tax /mo

Insurance /mo

Enter two loan scenarios and click Compare

Mortgage Comparison — Common Questions

How do I compare 15-year vs 30-year?

Enter the same loan amount and rate in both scenarios, then set term A to 15 years and term B to 30 years. You'll see the higher monthly cost of the 15-year vs the far greater total interest paid on the 30-year.

What is the upfront cost field for?

Use it to model buying discount points or paying origination fees on one scenario. The break-even analysis shows how long it takes for monthly savings to recoup that upfront cost.

How much does 0.5% rate difference matter?

On a $400,000 30-year loan, a 0.5% rate difference means roughly $120/month and over $40,000 in total interest over the life of the loan. Even small rate differences have a large long-term impact.

Which scenario wins on total cost?

The winner is determined by total amount paid over the full loan term including any upfront costs. The lower monthly payment option often loses on total cost if it extends the repayment period.