Your Mortgage Term Can Cost – Or Save – You Thousands

Over time, the term of a mortgage (for example, a 15-year loan vs. a 30-year one) drastically affects how much equity you’ve built up in your home, as well as how much interest you’ve had to pay.


Equity and interest paid may not add to total paid due to rounding.
Mortgage interest rates represent approximate averages: 15-year assumes 3.5%; 30-year assumes 4.1%.
Longer term loans typically have higher APRs.
Does not include down payment equity.