Initially the ARM rate may be 50% less than a 15-year rate, which makes it appealing to most. The 30-year mortgage rate is offered at a fixed rate over the life of the loan however; it takes longer to pay off. Interest rates for a 30-year mortgage are nearly 0.50% to 0.75% more than that of a 15-rate.
Tip: Try a valid symbol or a specific company name for relevant results
See today’s fixed mortgage rates. Use this fixed-rate mortgage calculator to get an estimate. A fixed-rate loan provides the stability of a consistent rate and monthly mortgage payment over the life of the loan. This fixed-rate mortgage calculator provides customized information based on the information you provide, but it assumes a few things.
Free mortgage calculator to find monthly payment, total home ownership cost, and amortization schedule of a mortgage with options for taxes, insurance, PMI, HOA, early payoff. Learn about mortgages, experiment with other real estate calculators, or explore many other calculators addressing math, fitness, health, and many more.
Input your target home price, down payment and interest rate, and NerdWallet's 15-year vs. 30-year mortgage calculator will generate the amount you can.