15 or 30 year mortgage? What’s the real difference? Which do you choose?
The main difference between a 15 year vs 30 year mortgage is whether you want to pay more upfront and save on overall costs, or have easier monthly payments for a longer time. If you are looking to purchase a new home with a mortgage, then you’re likely asking yourself this question. Input your target home price, down payment, and interest rate into Capital Banks’s 15-year vs. 30-year mortgage calculator to generate the amount you can expect to pay with both types of loans.