15-Year Mortgage Calculator

Calculate your monthly payment on a 15-year fixed-rate mortgage.

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Loan Amount

Annual Interest Rate (%)

Term (Months)

Monthly Payment

$2,491.23

Total Interest

$148,421.45

Total Cost

$448,421.45

Principal (67%)Interest (33%)

$300,000.00$148,421.45

Month	Payment	Principal	Interest	Balance
1	$2,491.23	$1,053.73	$1,437.50	$298,946.27
2	$2,491.23	$1,058.78	$1,432.45	$297,887.49
3	$2,491.23	$1,063.85	$1,427.38	$296,823.64
4	$2,491.23	$1,068.95	$1,422.28	$295,754.69
5	$2,491.23	$1,074.07	$1,417.16	$294,680.61
6	$2,491.23	$1,079.22	$1,412.01	$293,601.40
7	$2,491.23	$1,084.39	$1,406.84	$292,517.01
8	$2,491.23	$1,089.59	$1,401.64	$291,427.42
9	$2,491.23	$1,094.81	$1,396.42	$290,332.61
10	$2,491.23	$1,100.05	$1,391.18	$289,232.56
11	$2,491.23	$1,105.32	$1,385.91	$288,127.23
12	$2,491.23	$1,110.62	$1,380.61	$287,016.61

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Compare Current Rates

Rates shown are for illustration. Compare real offers from lenders to find your best rate.

Frequently Asked Questions

A 15-year mortgage payment is typically 30–50% higher than a 30-year, but you pay roughly half the total interest over the life of the loan.

Yes, 15-year mortgages typically have rates 0.5–0.75% lower than 30-year mortgages, saving even more on interest.

A $200,000 mortgage at 5% for 15 years has a monthly payment of approximately $1,581.59. Your exact amount depends on your rate.

If you can comfortably afford the higher payment, a 15-year mortgage saves a significant amount in interest and builds equity much faster.