30-year vs 15-year mortgage
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1
Interest rate4.500%Year30-year with extra prinYear30-yearYear15-year
2
Term36030-yearMonthBalancePrincipalInterest
Extra Prin
New balMonthBalancePrincipalInterestNew balMonthBalancePrincipalInterestNew bal
3
Financed amt$300,00011$300,000.00$395.06 $1,125.00$680.26 $298,924.68 11$300,000.00$395.06 $1,125.00$299,604.94 11$300,000.00$1,231.57 $968.75$298,768.43
4
Monthly pament$1,520.06 2$298,924.68 $399.09 $1,120.97$680.26 $297,845.33 2$299,604.94 $396.54 $1,123.52$299,208.41 2$298,768.43 $1,235.55 $964.77$297,532.89
5
(the monthly payment only includes Principal and Interest; taxes and insurance extra)
3$297,845.33 $403.14 $1,116.92$680.26 $296,761.93 3$299,208.41 $398.02 $1,122.03$298,810.38 3$297,532.89 $1,239.54 $960.78$296,293.35
6
4$296,761.93 $407.20 $1,112.86$680.26 $295,674.47 4$298,810.38 $399.52 $1,120.54$298,410.87 4$296,293.35 $1,243.54 $956.78$295,049.81
7
5$295,674.47 $411.28 $1,108.78$680.26 $294,582.93 5$298,410.87 $401.02 $1,119.04$298,009.85 5$295,049.81 $1,247.55 $952.77$293,802.26
8
Interest rate3.875%6$294,582.93 $415.37 $1,104.69$680.26 $293,487.30 6$298,009.85 $402.52 $1,117.54$297,607.33 6$293,802.26 $1,251.58 $948.74$292,550.68
9
Term18015-year7$293,487.30 $419.48 $1,100.58$680.26 $292,387.56 7$297,607.33 $404.03 $1,116.03$297,203.30 7$292,550.68 $1,255.62 $944.69$291,295.05
10
Financed amt$300,0008$292,387.56 $423.60 $1,096.45$680.26 $291,283.69 8$297,203.30 $405.54 $1,114.51$296,797.76 8$291,295.05 $1,259.68 $940.64$290,035.38
11
Monthly pament$2,200.32 9$291,283.69 $427.74 $1,092.31$680.26 $290,175.69 9$296,797.76 $407.06 $1,112.99$296,390.69 9$290,035.38 $1,263.75 $936.57$288,771.63
12
(the monthly payment only includes Principal and Interest; taxes and insurance extra)
10$290,175.69 $431.90 $1,088.16$680.26 $289,063.53 10$296,390.69 $408.59 $1,111.47$295,982.10 10$288,771.63 $1,267.83 $932.49$287,503.80
13
11$289,063.53 $436.07 $1,083.99$680.26 $287,947.20 11$295,982.10 $410.12 $1,109.93$295,571.98 11$287,503.80 $1,271.92 $928.40$286,231.88
14
12$287,947.20 $440.25 $1,079.80$680.26 $286,826.68 12$295,571.98 $411.66 $1,108.39$295,160.32 12$286,231.88 $1,276.03 $924.29$284,955.85
15
30-year w/ extra
15-year30-year213$286,826.68 $444.46 $1,075.60$680.26 $285,701.96 213$295,160.32 $413.20 $1,106.85$294,747.12 213$284,955.85 $1,280.15 $920.17$283,675.70
16
Total interest paid
$120,893.52$96,057.34$247,220.1314$285,701.96 $448.67 $1,071.38$680.26 $284,573.03 14$294,747.12 $414.75 $1,105.30$294,332.36 14$283,675.70 $1,284.28 $916.04$282,391.42
17
# of payments19218036015$284,573.03 $452.91 $1,067.15$680.26 $283,439.86 15$294,332.36 $416.31 $1,103.75$293,916.05 15$282,391.42 $1,288.43 $911.89$281,102.99
18
"Premium for safety"
$96.00
per month
16$283,439.86 $457.16 $1,062.90$680.26 $282,302.44 16$293,916.05 $417.87 $1,102.19$293,498.18 16$281,102.99 $1,292.59 $907.73$279,810.40
19
17$282,302.44 $461.42 $1,058.63$680.26 $281,160.75 17$293,498.18 $419.44 $1,100.62$293,078.74 17$279,810.40 $1,296.76 $903.55$278,513.64
20
18$281,160.75 $465.70 $1,054.35$680.26 $280,014.79 18$293,078.74 $421.01 $1,099.05$292,657.73 18$278,513.64 $1,300.95 $899.37$277,212.69
21
19$280,014.79 $470.00 $1,050.06$680.26 $278,864.52 19$292,657.73 $422.59 $1,097.47$292,235.14 19$277,212.69 $1,305.15 $895.17$275,907.53
22
20$278,864.52 $474.31 $1,045.74$680.26 $277,709.95 20$292,235.14 $424.17 $1,095.88$291,810.97 20$275,907.53 $1,309.37 $890.95$274,598.17
23
21$277,709.95 $478.64 $1,041.41$680.26 $276,551.04 21$291,810.97 $425.76 $1,094.29$291,385.20 21$274,598.17 $1,313.60 $886.72$273,284.57
24
22$276,551.04 $482.99 $1,037.07$680.26 $275,387.79 22$291,385.20 $427.36 $1,092.69$290,957.84 22$273,284.57 $1,317.84 $882.48$271,966.73
25
23$275,387.79 $487.35 $1,032.70$680.26 $274,220.17 23$290,957.84 $428.96 $1,091.09$290,528.88 23$271,966.73 $1,322.09 $878.23$270,644.64
26
24$274,220.17 $491.73 $1,028.33$680.26 $273,048.18 24$290,528.88 $430.57 $1,089.48$290,098.31 24$270,644.64 $1,326.36 $873.96$269,318.28
27
325$273,048.18 $496.13 $1,023.93$680.26 $271,871.79 325$290,098.31 $432.19 $1,087.87$289,666.12 325$269,318.28 $1,330.64 $869.67$267,987.63
28
26$271,871.79 $500.54 $1,019.52$680.26 $270,690.99 26$289,666.12 $433.81 $1,086.25$289,232.31 26$267,987.63 $1,334.94 $865.38$266,652.69
29
27$270,690.99 $504.96 $1,015.09$680.26 $269,505.77 27$289,232.31 $435.43 $1,084.62$288,796.88 27$266,652.69 $1,339.25 $861.07$265,313.44
30
28$269,505.77 $509.41 $1,010.65$680.26 $268,316.10 28$288,796.88 $437.07 $1,082.99$288,359.81 28$265,313.44 $1,343.58 $856.74$263,969.86
31
29$268,316.10 $513.87 $1,006.19$680.26 $267,121.96 29$288,359.81 $438.71 $1,081.35$287,921.10 29$263,969.86 $1,347.92 $852.40$262,621.95
32
30$267,121.96 $518.35 $1,001.71$680.26 $265,923.35 30$287,921.10 $440.35 $1,079.70$287,480.75 30$262,621.95 $1,352.27 $848.05$261,269.68
33
31$265,923.35 $522.84 $997.21$680.26 $264,720.24 31$287,480.75 $442.00 $1,078.05$287,038.75 31$261,269.68 $1,356.64 $843.68$259,913.04
34
32$264,720.24 $527.36 $992.70$680.26 $263,512.63 32$287,038.75 $443.66 $1,076.40$286,595.09 32$259,913.04 $1,361.02 $839.30$258,552.03
35
33$263,512.63 $531.88 $988.17$680.26 $262,300.48 33$286,595.09 $445.32 $1,074.73$286,149.76 33$258,552.03 $1,365.41 $834.91$257,186.62
36
34$262,300.48 $536.43 $983.63$680.26 $261,083.79 34$286,149.76 $446.99 $1,073.06$285,702.77 34$257,186.62 $1,369.82 $830.50$255,816.80
37
35$261,083.79 $540.99 $979.06$680.26 $259,862.53 35$285,702.77 $448.67 $1,071.39$285,254.10 35$255,816.80 $1,374.24 $826.08$254,442.55
38
36$259,862.53 $545.57 $974.48$680.26 $258,636.70 36$285,254.10 $450.35 $1,069.70$284,803.74 36$254,442.55 $1,378.68 $821.64$253,063.87
39
437$258,636.70 $550.17 $969.89$680.26 $257,406.27 437$284,803.74 $452.04 $1,068.01$284,351.70 437$253,063.87 $1,383.13 $817.19$251,680.74
40
38$257,406.27 $554.78 $965.27$680.26 $256,171.22 38$284,351.70 $453.74 $1,066.32$283,897.96 38$251,680.74 $1,387.60 $812.72$250,293.14
41
39$256,171.22 $559.41 $960.64$680.26 $254,931.55 39$283,897.96 $455.44 $1,064.62$283,442.53 39$250,293.14 $1,392.08 $808.24$248,901.06
42
40$254,931.55 $564.06 $955.99$680.26 $253,687.22 40$283,442.53 $457.15 $1,062.91$282,985.38 40$248,901.06 $1,396.58 $803.74$247,504.48
43
41$253,687.22 $568.73 $951.33$680.26 $252,438.23 41$282,985.38 $458.86 $1,061.20$282,526.52 41$247,504.48 $1,401.09 $799.23$246,103.40
44
42$252,438.23 $573.41 $946.64$680.26 $251,184.56 42$282,526.52 $460.58 $1,059.47$282,065.94 42$246,103.40 $1,405.61 $794.71$244,697.79
45
43$251,184.56 $578.11 $941.94$680.26 $249,926.18 43$282,065.94 $462.31 $1,057.75$281,603.63 43$244,697.79 $1,410.15 $790.17$243,287.64
46
44$249,926.18 $582.83 $937.22$680.26 $248,663.08 44$281,603.63 $464.04 $1,056.01$281,139.59 44$243,287.64 $1,414.70 $785.62$241,872.94
47
45$248,663.08 $587.57 $932.49$680.26 $247,395.25 45$281,139.59 $465.78 $1,054.27$280,673.80 45$241,872.94 $1,419.27 $781.05$240,453.67
48
46$247,395.25 $592.32 $927.73$680.26 $246,122.67 46$280,673.80 $467.53 $1,052.53$280,206.27 46$240,453.67 $1,423.85 $776.46$239,029.81
49
47$246,122.67 $597.10 $922.96$680.26 $244,845.31 47$280,206.27 $469.28 $1,050.77$279,736.99 47$239,029.81 $1,428.45 $771.87$237,601.36
50
48$244,845.31 $601.89 $918.17$680.26 $243,563.16 48$279,736.99 $471.04 $1,049.01$279,265.95 48$237,601.36 $1,433.06 $767.25$236,168.30
51
549$243,563.16 $606.69 $913.36$680.26 $242,276.20 549$279,265.95 $472.81 $1,047.25$278,793.14 549$236,168.30 $1,437.69 $762.63$234,730.61
52
50$242,276.20 $611.52 $908.54$680.26 $240,984.42 50$278,793.14 $474.58 $1,045.47$278,318.56 50$234,730.61 $1,442.33 $757.98$233,288.27
53
51$240,984.42 $616.36 $903.69$680.26 $239,687.79 51$278,318.56 $476.36 $1,043.69$277,842.20 51$233,288.27 $1,446.99 $753.33$231,841.28
54
52$239,687.79 $621.23 $898.83$680.26 $238,386.30 52$277,842.20 $478.15 $1,041.91$277,364.05 52$231,841.28 $1,451.66 $748.65$230,389.62
55
53$238,386.30 $626.11 $893.95$680.26 $237,079.93 53$277,364.05 $479.94 $1,040.12$276,884.11 53$230,389.62 $1,456.35 $743.97$228,933.26
56
54$237,079.93 $631.01 $889.05$680.26 $235,768.66 54$276,884.11 $481.74 $1,038.32$276,402.37 54$228,933.26 $1,461.05 $739.26$227,472.21
57
55$235,768.66 $635.92 $884.13$680.26 $234,452.48 55$276,402.37 $483.55 $1,036.51$275,918.82 55$227,472.21 $1,465.77 $734.55$226,006.44
58
56$234,452.48 $640.86 $879.20$680.26 $233,131.36 56$275,918.82 $485.36 $1,034.70$275,433.46 56$226,006.44 $1,470.51 $729.81$224,535.93
59
57$233,131.36 $645.81 $874.24$680.26 $231,805.28 57$275,433.46 $487.18 $1,032.88$274,946.28 57$224,535.93 $1,475.25 $725.06$223,060.67
60
58$231,805.28 $650.79 $869.27$680.26 $230,474.23 58$274,946.28 $489.01 $1,031.05$274,457.27 58$223,060.67 $1,480.02 $720.30$221,580.66
61
59$230,474.23 $655.78 $864.28$680.26 $229,138.19 59$274,457.27 $490.84 $1,029.21$273,966.43 59$221,580.66 $1,484.80 $715.52$220,095.86
62
60$229,138.19 $660.79 $859.27$680.26 $227,797.14 60$273,966.43 $492.68 $1,027.37$273,473.75 60$220,095.86 $1,489.59 $710.73$218,606.27
63
661$227,797.14 $665.82 $854.24$680.26 $226,451.06 661$273,473.75 $494.53 $1,025.53$272,979.22 661$218,606.27 $1,494.40 $705.92$217,111.86
64
62$226,451.06 $670.86 $849.19$680.26 $225,099.93 62$272,979.22 $496.38 $1,023.67$272,482.84 62$217,111.86 $1,499.23 $701.09$215,612.64
65
63$225,099.93 $675.93 $844.12$680.26 $223,743.74 63$272,482.84 $498.25 $1,021.81$271,984.59 63$215,612.64 $1,504.07 $696.25$214,108.57
66
64$223,743.74 $681.02 $839.04$680.26 $222,382.46 64$271,984.59 $500.11 $1,019.94$271,484.48 64$214,108.57 $1,508.93 $691.39$212,599.64
67
65$222,382.46 $686.12 $833.93$680.26 $221,016.08 65$271,484.48 $501.99 $1,018.07$270,982.49 65$212,599.64 $1,513.80 $686.52$211,085.84
68
66$221,016.08 $691.25 $828.81$680.26 $219,644.57 66$270,982.49 $503.87 $1,016.18$270,478.62 66$211,085.84 $1,518.69 $681.63$209,567.15
69
67$219,644.57 $696.39 $823.67$680.26 $218,267.92 67$270,478.62 $505.76 $1,014.29$269,972.86 67$209,567.15 $1,523.59 $676.73$208,043.56
70
68$218,267.92 $701.55 $818.50$680.26 $216,886.10 68$269,972.86 $507.66 $1,012.40$269,465.20 68$208,043.56 $1,528.51 $671.81$206,515.05
71
69$216,886.10 $706.73 $813.32$680.26 $215,499.11 69$269,465.20 $509.56 $1,010.49$268,955.64 69$206,515.05 $1,533.45 $666.87$204,981.60
72
70$215,499.11 $711.93 $808.12$680.26 $214,106.91 70$268,955.64 $511.47 $1,008.58$268,444.17 70$204,981.60 $1,538.40 $661.92$203,443.21
73
71$214,106.91 $717.16 $802.90$680.26 $212,709.49 71$268,444.17 $513.39 $1,006.67$267,930.78 71$203,443.21 $1,543.37 $656.95$201,899.84
74
72$212,709.49 $722.40 $797.66$680.26 $211,306.84 72$267,930.78 $515.32 $1,004.74$267,415.46 72$201,899.84 $1,548.35 $651.97$200,351.49
75
773$211,306.84 $727.66 $792.40$680.26 $209,898.92 773$267,415.46 $517.25 $1,002.81$266,898.21 773$200,351.49 $1,553.35 $646.97$198,798.14
76
74$209,898.92 $732.93 $787.12$680.26 $208,485.72 74$266,898.21 $519.19 $1,000.87$266,379.02 74$198,798.14 $1,558.37 $641.95$197,239.77
77
75$208,485.72 $738.23 $781.82$680.26 $207,067.22 75$266,379.02 $521.13 $998.92$265,857.89 75$197,239.77 $1,563.40 $636.92$195,676.37
78
76$207,067.22 $743.55 $776.50$680.26 $205,643.41 76$265,857.89 $523.09 $996.97$265,334.80 76$195,676.37 $1,568.45 $631.87$194,107.93
79
77$205,643.41 $748.89 $771.16$680.26 $204,214.25 77$265,334.80 $525.05 $995.01$264,809.75 77$194,107.93 $1,573.51 $626.81$192,534.41
80
78$204,214.25 $754.25 $765.80$680.26 $202,779.74 78$264,809.75 $527.02 $993.04$264,282.73 78$192,534.41 $1,578.59 $621.73$190,955.82
81
79$202,779.74 $759.63 $760.42$680.26 $201,339.84 79$264,282.73 $529.00 $991.06$263,753.74 79$190,955.82 $1,583.69 $616.63$189,372.13
82
80$201,339.84 $765.03 $755.02$680.26 $199,894.55 80$263,753.74 $530.98 $989.08$263,222.76 80$189,372.13 $1,588.80 $611.51$187,783.33
83
81$199,894.55 $770.45 $749.60$680.26 $198,443.83 81$263,222.76 $532.97 $987.09$262,689.79 81$187,783.33 $1,593.93 $606.38$186,189.39
84
82$198,443.83 $775.89 $744.16$680.26 $196,987.68 82$262,689.79 $534.97 $985.09$262,154.82 82$186,189.39 $1,599.08 $601.24$184,590.31
85
83$196,987.68 $781.35 $738.70$680.26 $195,526.06 83$262,154.82 $536.98 $983.08$261,617.84 83$184,590.31 $1,604.25 $596.07$182,986.06
86
84$195,526.06 $786.83 $733.22$680.26 $194,058.97 84$261,617.84 $538.99 $981.07$261,078.85 84$182,986.06 $1,609.43 $590.89$181,376.64
87
885$194,058.97 $792.33 $727.72$680.26 $192,586.37 885$261,078.85 $541.01 $979.05$260,537.84 885$181,376.64 $1,614.62 $585.70$179,762.02
88
86$192,586.37 $797.86 $722.20$680.26 $191,108.25 86$260,537.84 $543.04 $977.02$259,994.80 86$179,762.02 $1,619.84 $580.48$178,142.18
89
87$191,108.25 $803.40 $716.66$680.26 $189,624.59 87$259,994.80 $545.08 $974.98$259,449.73 87$178,142.18 $1,625.07 $575.25$176,517.11
90
88$189,624.59 $808.96 $711.09$680.26 $188,135.36 88$259,449.73 $547.12 $972.94$258,902.61 88$176,517.11 $1,630.32 $570.00$174,886.80
91
89$188,135.36 $814.55 $705.51$680.26 $186,640.55 89$258,902.61 $549.17 $970.88$258,353.44 89$174,886.80 $1,635.58 $564.74$173,251.22
92
90$186,640.55 $820.15 $699.90$680.26 $185,140.13 90$258,353.44 $551.23 $968.83$257,802.21 90$173,251.22 $1,640.86 $559.46$171,610.35
93
91$185,140.13 $825.78 $694.28$680.26 $183,634.09 91$257,802.21 $553.30 $966.76$257,248.91 91$171,610.35 $1,646.16 $554.16$169,964.19
94
92$183,634.09 $831.43 $688.63$680.26 $182,122.40 92$257,248.91 $555.37 $964.68$256,693.54 92$169,964.19 $1,651.48 $548.84$168,312.72
95
93$182,122.40 $837.10 $682.96$680.26 $180,605.04 93$256,693.54 $557.46 $962.60$256,136.08 93$168,312.72 $1,656.81 $543.51$166,655.91
96
94$180,605.04 $842.79 $677.27$680.26 $179,081.99 94$256,136.08 $559.55 $960.51$255,576.54 94$166,655.91 $1,662.16 $538.16$164,993.75
97
95$179,081.99 $848.50 $671.56$680.26 $177,553.23 95$255,576.54 $561.64 $958.41$255,014.89 95$164,993.75 $1,667.53 $532.79$163,326.22
98
96$177,553.23 $854.23 $665.82$680.26 $176,018.74 96$255,014.89 $563.75 $956.31$254,451.14 96$163,326.22 $1,672.91 $527.41$161,653.31
99
997$176,018.74 $859.99 $660.07$680.26 $174,478.49 997$254,451.14 $565.86 $954.19$253,885.28 997$161,653.31 $1,678.31 $522.01$159,975.00
100
98$174,478.49 $865.76 $654.29$680.26 $172,932.46 98$253,885.28 $567.99 $952.07$253,317.29 98$159,975.00 $1,683.73 $516.59$158,291.27
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