The monthly payments for this type of loan are roughly 10 percent to 15 percent higher per month than the payment for a 30-year.
Because you'll pay less total interest on the 15-year fixed rate mortgage, you won't have the maximum mortgage interest tax deduction possible.
Compare Them Yourself
Use the "How much can I save with a 15 year mortgage?" calculator in our Resource Center to help decide which loan term is best for you.
