Loanweek

15-year vs 30-year mortgage

$598.19/month difference in monthly payment

$252,678 difference in total interest

15-year: $2,600.15 a month. 30-year: $2,001.96 a month.

Source: Freddie Mac PMMS averages for the week of September 24, 2026: 30-year 7.03%, 15-year 6.42%. 20-year loans are priced at the 30-year average. An average, not an offer.

Side by side

15-year30-year
Amount borrowed$300,000$300,000
Rate6.42%7.03%
Monthly payment$2,600.15$2,001.96
Paid off in15 years30 years
Total interest$168,026$420,704
Balance remaining: 15-year vs 30-yearLoan balance at the end of each year for both options.15-year30-year$0$100k$200k$300kStartYear 15Year 3015-year, Start: $300k15-year, Year 1: $287.7k15-year, Year 2: $274.6k15-year, Year 3: $260.6k15-year, Year 4: $245.7k15-year, Year 5: $229.8k15-year, Year 6: $212.9k15-year, Year 7: $194.8k15-year, Year 8: $175.6k15-year, Year 9: $155k15-year, Year 10: $133.1k15-year, Year 11: $109.8k15-year, Year 12: $84.9k15-year, Year 13: $58.4k15-year, Year 14: $30.1k15-year, Year 15: $015-year, Year 16: $015-year, Year 17: $015-year, Year 18: $015-year, Year 19: $015-year, Year 20: $015-year, Year 21: $015-year, Year 22: $015-year, Year 23: $015-year, Year 24: $015-year, Year 25: $015-year, Year 26: $015-year, Year 27: $015-year, Year 28: $015-year, Year 29: $015-year, Year 30: $030-year, Start: $300k30-year, Year 1: $297k30-year, Year 2: $293.7k30-year, Year 3: $290.2k30-year, Year 4: $286.5k30-year, Year 5: $282.5k30-year, Year 6: $278.2k30-year, Year 7: $273.6k30-year, Year 8: $268.6k30-year, Year 9: $263.3k30-year, Year 10: $257.6k30-year, Year 11: $251.5k30-year, Year 12: $245k30-year, Year 13: $237.9k30-year, Year 14: $230.4k30-year, Year 15: $222.3k30-year, Year 16: $213.6k30-year, Year 17: $204.3k30-year, Year 18: $194.4k30-year, Year 19: $183.7k30-year, Year 20: $172.2k30-year, Year 21: $159.9k30-year, Year 22: $146.7k30-year, Year 23: $132.5k30-year, Year 24: $117.3k30-year, Year 25: $101k30-year, Year 26: $83.6k30-year, Year 27: $64.8k30-year, Year 28: $44.7k30-year, Year 29: $23.1k30-year, Year 30: $0

Questions

Which has the lower monthly payment?

30-year, by $598.19 a month ($2,600.15 vs $2,001.96).

Which costs less overall?

15-year saves $252,678 in interest ($168,026 vs $420,704).

What rates are these figures based on?

Freddie Mac PMMS averages for the week of September 24, 2026: 30-year 7.03%, 15-year 6.42%. 20-year loans are priced at the 30-year average.

Can I compare a different amount?

Yes: change the amount above and press Compare. The page recalculates with the same rates.

Sources

Numbers on this page last changed September 26, 2026. How they are calculated: methodology.