15 Year Mortgage Calculator
The payment and total interest on a 15-year loan.
Works in your browser. Nothing you type is sent to us.
Type the rate you have been quoted; rates change daily and depend on your credit and the loan.
Taxes, insurance and fees
Property tax is a share of the home's value and varies by county. PMI applies only when the down payment is under 20%, and stops once the balance falls to 78% of the price.
Extra payments
Extra money goes straight to the principal, which cuts the interest and the number of payments.
Amortization schedule
| Year | Principal | Interest | Balance |
|---|
15 Year Mortgage Calculator at a glance
- Price
- Free
- Data sent to us
- None, it runs in your browser
- Sign-up
- Not needed
- Loans
- Fixed rate, 10 to 30 years
- Gives
- Monthly payment, total interest, payoff date
- Also
- Amortization schedule, extra payments
How to use 15 Year Mortgage Calculator
- Type the loanType the price, down payment, interest rate and term.
- Add the costsSet the property tax rate, insurance, PMI and HOA fees for the home.
- Read the paymentSee the monthly payment and its parts, the total interest and the schedule. Try extra payments to see what they save.
The term is set to 15 years. A $320,000 loan at 6.5% costs $2,787.54 a month in principal and interest over 15 years against $2,022.62 over 30, but the total interest falls from about $408,000 to about $182,000. 15-year rates are usually lower too; type the rate you are quoted.
How it works
15 Year Mortgage Calculator is a web page that does its work on your own device. Everything you type or choose is worked out by your browser and never sent to a server, so nothing is stored and there is nothing to delete. There is no account, no sign-up and no limit on how often you use it.
Compare the terms
Switch the term to 30 years and back to see both payments. If the 15-year payment is a stretch, a 30-year loan with extra payments gives similar savings while keeping the lower payment available in a tight month.
Other shortcuts
Mortgage Calculator · Amortization Calculator · Extra Payment Mortgage Calculator
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