Free 15-Year Mortgage Calculator 2026

A 15-year mortgage has higher monthly payments but you pay dramatically less total interest. On a $300,000 loan at 6.5%, a 15-year mortgage costs $2,613/month but saves over $130,000 in total interest compared to a 30-year loan at the same rate. Enter your loan amount and rate to see the exact comparison for your situation. No sign-up required — your data never leaves your browser. Works instantly on desktop, tablet, and mobile. Completely free with no daily usage limits, no watermarks, and no account needed. Trusted by students, professionals, and businesses worldwide. FixFlowHub is a browser-based toolbox with 120+ free utilities covering PDF, image, text, calculator, and productivity tools.

Frequently Asked Questions

What is the monthly payment on a $300,000 15-year mortgage?

At 6.5% interest, a $300,000 15-year fixed mortgage payment is approximately $2,613/month. At 7%, the payment is approximately $2,696/month. The exact amount depends on your interest rate and whether property taxes and insurance are included.

Is a 15-year or 30-year mortgage better?

A 15-year mortgage is better if you can afford the higher monthly payment — you pay 50-60% less total interest and build equity twice as fast. A 30-year is better if you need lower monthly payments for cash flow, or want to invest the difference at a higher return than your mortgage rate.

How much interest do you save with a 15-year vs 30-year mortgage?

On a $300,000 loan at 7%, a 30-year mortgage costs about $418,000 in total interest. A 15-year mortgage at 6.5% costs about $171,000 in total interest — saving you approximately $247,000 over the life of the loan.

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