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Welcome > Resources > Mortgage Calculators >
15 vs. 30 Year Mortgages ...
15 vs. 30 Yr Mortgages
Determining which mortgage term is right for you can be a challenge. With a 15 year mortgage you will pay significantly less interest, but only if you can afford the higher monthly payment. Use this calculator to compare these two mortgage terms, and let us help you decide which term is better for you.
Definitions
- Mortgage amount
- Original or expected balance for your mortgage.
- Interest rate
- Annual interest rate for your mortgage. Interest rates are generally lower for shorter term mortgages.
- Marginal tax rate
- This is your combined state and federal tax rate. This is used to calculate your potential income tax savings by deducting your mortgage interest.
- Monthly payment
- Monthly principal and interest payment (PI). Both 30 year and 15 year mortgages are shown.
- Total payments
- Total of all monthly payments over the full term of the mortgage. Both 30 year and 15 year mortgages are shown.
- Total interest
- Total of all interest paid over the full term of the mortgage. Both 30 year and 15 year mortgages are shown.
The mortgage calculators are provided by KJE Computer Solutions, LLC and made available to NUMBER1EXPERT as self-help tools for your independent use and are not intended to provide investment advice. We can't guarantee their applicability or accuracy in regards to your individual circumstances. All examples are hypothetical and are for illustrative purposes. We encourage you to seek personalized advice from qualified professionals regarding all personal finance issues.
Investment Real Estate >Investment Property
Individuals who invest in real estate are doing very well these days. The potential for income, appreciation and possible tax savings makes investment property especially attractive.
It is important for you to get professional advice before you decide to buy investment property. You may want to start with a personal financial advisor who can help you set your investment goals. Your real estate agent can help you select a competitively-priced property that meets these goals, and can answer questions about why a particular property would be a solid investment. What features would make it easy to rent? What kind of maintenance expenses are you likely to incur? What will your cash flow be, and how will the tax savings affect your bottom line? While agents cannot predict how much a particular property will appreciate, they can give you the history of price trends in the market area.
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| Q |
What famous antebellum mansion was known as the "Queen of Tennessee Plantations"?
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| A |
Belle Meade Plantation was a prosperous 5,400-acre thoroughbred horse farm in the mid 1800's. The Civil War Battle of Nashville was fought in its front yard. |
 See More Real Estate Trivia > |
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