JK Jason Kaczmarski TeamRE/MAX 1st Choice · Middle Tennessee Talk with Jason
Menu
ToolsGuidesAreasAbout Search homes
Loan-term comparison

30 years, 15 years, or something in between?

Compare the required payments and total interest—then see how optional extra payments can shorten a 30-year loan without locking in the 15-year payment.

Defaults: 30-year 6.66% · 15-year 6.04% · As of 2026-07-30 · Freddie Mac PMMS

Your loan

Rates are editable. Results update as you type.

This is added to the required principal-and-interest payment and applied toward principal.
Estimated loan amount $0 $0 down payment

Principal and interest only. Property taxes, homeowners insurance, mortgage insurance, HOA dues, closing costs, and other expenses are not included.

Lower required payment

30-year fixed

360 payments
Required monthly P&I $0
Total interest
$0
Scheduled payoff
30 years
Faster required payoff

15-year fixed

180 payments
Required monthly P&I $0
Total interest
$0
Scheduled payoff
15 years
The required-payment tradeoff

Comparing your two options

Flexible middle ground

30-year with extra principal

The lower 30-year payment remains the contractual minimum; the extra amount is optional.

Total monthly P&I$0
Estimated payoff—
Time saved—
Interest saved$0

Planning estimates only—not a loan quote, lending recommendation, or guarantee. Actual rates, payments, loan costs, and prepayment rules vary. Confirm that your loan permits extra principal payments and that they are applied correctly.