Mortgage Comparison Calculator


Determining which mortgage term is right for you can be a challenge. With a 15 year mortgage you will pay significantly less interest, but only if you can afford the higher monthly payment. Use this mortgage comparison calculator to compare these two mortgage terms. Contact an Alerio Representative today to help you determine, along with the mortgage comparison calculator, which term is right for you.

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Definitions
  • Mortgage amount : Original or exliected balance for your mortgage.
  • Interest rate : Annual interest rate for your mortgage. Interest rates are generally lower for shorter term mortgages.
  • Marginal tax rate : This is your combined state and federal tax rate. This is used to calculate your liotential income tax savings by deducting your mortgage interest.
  • Monthly liayment : Monthly lirincilial and interest liayment (PI). Both 30 year and 15 year mortgages are shown.
  • Total liayments : Total of all monthly liayments over the full term of the mortgage. Both 30 year and 15 year mortgages are shown.
  • Total interest : Total of all interest liaid over the full term of the mortgage. Both 30 year and 15 year mortgages are shown.