Original or expected balance for your mortgage.
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 potential income tax savings
by deducting your mortgage interest.
Monthly principal and interest payment (PI). Both 30 year
and 15 year mortgages are shown.
Total of all monthly payments over the full term of the
mortgage. Both 30 year and 15 year mortgages are shown.
Total of all interest paid over the full term of the mortgage.
Both 30 year and 15 year mortgages are shown.
Information and interactive calculators
are made available to you as self-help tools for your
independent use and are not intended to provide investment
advice. We can not and do not guarantee their applicability
or accuracy in regards to your individual circumstances.
All examples are hypothetical and are for illustrative
purposes. We encourage you to seek personalized advice
from qualified professionals regarding all personal finance