Refinance from 30 to 15-year Mortgage Calculator
Results
Here’s the table:
| Year | 30-Year Mortgage Payment | 15-Year Mortgage Payment | Difference |
|---|---|---|---|
| 1 | $955.00 | $1,430.00 | $475.00 |
| 2 | $955.00 | $1,430.00 | $475.00 |
| 3 | $955.00 | $1,430.00 | $475.00 |
| 4 | $955.00 | $1,430.00 | $475.00 |
| 5 | $955.00 | $1,430.00 | $475.00 |
| 6 | $955.00 | $1,430.00 | $475.00 |
| 7 | $955.00 | $1,430.00 | $475.00 |
| 8 | $955.00 | $1,430.00 | $475.00 |
| 9 | $955.00 | $1,430.00 | $475.00 |
| 10 | $955.00 | $1,430.00 | $475.00 |
| 11 | $955.00 | $1,430.00 | $475.00 |
| 12 | $955.00 | $1,430.00 | $475.00 |
| 13 | $955.00 | $1,430.00 | $475.00 |
| 14 | $955.00 | $1,430.00 | $475.00 |
| 15 | $955.00 | $1,430.00 | $475.00 |
For each year, the “Difference” column shows the additional payment required for the 15-year mortgage compared to the 30-year mortgage. This table provides a rough estimate, and actual values may vary based on factors such as taxes, insurance, and any additional payments made towards the principal.