{"id":46745,"date":"2020-12-22T09:40:49","date_gmt":"2020-12-22T17:40:49","guid":{"rendered":"https:\/\/www.credible.com\/blog\/?p=46745"},"modified":"2023-02-14T14:50:37","modified_gmt":"2023-02-14T22:50:37","slug":"15-vs-30-year-mortgage-which-ones-right-for-you","status":"publish","type":"post","link":"https:\/\/www.credible.com\/blog\/mortgages\/15-vs-30-year-mortgage\/","title":{"rendered":"15- vs. 30-Year Mortgage: Which One&#8217;s Right for You?"},"content":{"rendered":"<p>When it comes to getting a mortgage, one of the most important parts to consider is the loan term. Nearly 90% of homebuyers choose a 30-year fixed mortgage, but you&#8217;ll need to consider what&#8217;s right for your situation.<\/p>\n<p>Generally, a longer loan term comes with lower monthly payments, but shorter loan terms cost much less in interest.<\/p>\n<p><b>Here&#8217;s how to weigh your options with 15-year and 30-year mortgages:<\/b><\/p>\n<ul>\n<li><a href=\"#loan-term-pay-for-mortgage\">Your loan term impacts how much you\u2019ll pay for a mortgage<\/a><\/li>\n<li><a href=\"#pros-cons-15-year-mortgage\">Pros and cons of a 15-year mortgage<\/a><\/li>\n<li><a href=\"#pros-cons-30-year-mortgage\">Pros and cons of a 30-year mortgage<\/a><\/li>\n<li><a href=\"#which-loan-right-for-you\">Which loan term is right for you?<\/a><\/li>\n<li><a href=\"#30-year-mortgage-pay-off-early\">Another option: Get a 30-year mortgage and pay it off early<\/a><\/li>\n<\/ul>\n<p><a name=\"loan-term-pay-for-mortgage\"><\/a><\/p>\n<h2>Your loan term impacts how much you\u2019ll pay for a mortgage<\/h2>\n<p>A loan term plays a big role in the interest rate you get, your monthly payment and how much interest you pay over the life of the <a href=\"https:\/\/www.credible.com\/mortgage\">home loan<\/a>.<\/p>\n<p>When you take out a home loan, whether it&#8217;s a 15- or 30-year mortgage:<\/p>\n<ol>\n<li>You&#8217;ll make regular monthly payments that follow an <a href=\"https:\/\/www.credible.com\/blog\/mortgages\/mortgage-amortization\/\">amortization schedule<\/a>.<\/li>\n<li>A portion of your mortgage payment goes toward the principal balance and interest, and the amortization schedule details how much will go toward each part.<\/li>\n<\/ol>\n<p>More of your monthly mortgage payment goes to interest in the beginning. Homeowners with a <a href=\"https:\/\/www.credible.com\/mortgage\/rates\/30-year-fixed\">30-year mortgage<\/a> will pay more interest versus those with a <a href=\"https:\/\/www.credible.com\/mortgage\/rates\/15-year-fixed\">15-year mortgage<\/a>.<\/p>\n<div class=\"basic-box\" style=\"border: 1px solid #E2E4E6;\"><div class=\"basic-box__inside\"><b>For example:<\/b> Say you take out a 30-year, $200,000 mortgage with a 3% APR and monthly payment of $975. If you follow the amortization schedule exactly, then you\u2019d pay <b>$82,970<\/b> in interest over 30 years. But if you took out the same loan with a 15-year term, the monthly payments increase to $1,405, and total interest amounts to just <b>$38,931<\/b>.<\/div><\/div>\n<p><b><i>Learn More: <\/i><\/b><a href=\"https:\/\/www.credible.com\/blog\/mortgages\/how-to-get-a-mortgage\/\"><b><i>How to Get a Mortgage<\/i><\/b><\/a><br \/>\n<a name=\"pros-cons-15-year-mortgage\"><\/a><\/p>\n<h2>Pros and cons of a 15-year mortgage<\/h2>\n<p>Because it has a shorter term, a 15-year mortgage will be much cheaper in the long run \u2014 but it limits your other options.<\/p>\n<h3>Pros<\/h3>\n<ul>\n<li><b>You\u2019ll get a lower mortgage rate. <\/b>Shorter loan terms typically come with lower interest rates because the lender is exposed to fewer years of risk.<\/li>\n<li><b>You\u2019ll build equity faster.<\/b> You pay down the principal balance faster on a shorter schedule, which is helpful if you want to eventually take out a home equity loan or line of credit.<\/li>\n<li><b>You\u2019ll spend less on interest. <\/b>Because interest rates are typically lower and you pay down the debt faster, you spend less on interest costs.<\/li>\n<\/ul>\n<h3>Cons<\/h3>\n<ul>\n<li><b>Your monthly payments will be higher. <\/b>You&#8217;re squeezing all your payments on a shorter amortization schedule, so your monthly payments increase accordingly.<\/li>\n<li><b>More of your budget goes toward housing.<\/b> That means<a href=\"https:\/\/www.credible.com\/blog\/mortgages\/pay-off-mortgage-or-invest\/\"> less money goes toward investing<\/a>, saving for emergencies, and spending on things like vacations.<\/li>\n<li><b>You\u2019ll be limited on your home purchase price. <\/b>Because a 15-year mortgage comes with higher monthly payments, you\u2019ll qualify for a less expensive loan. That might mean buying a smaller home than you originally planned.<\/li>\n<\/ul>\n<div id=\"purchase-rate-table\">\n  Loading widget - purchase-rate-table\n<\/div>\n\n<p><a name=\"pros-cons-30-year-mortgage\"><\/a><\/p>\n<h2>Pros and cons of a 30-year mortgage<\/h2>\n<p>A 30-year fixed mortgage costs more in interest over the life of the loan, but the monthly payments are more affordable.<\/p>\n<h3>Pros<\/h3>\n<ul>\n<li><b>Your monthly payment will be lower.<\/b> The loan term is stretched over a longer period of time, so each payment is lower and therefore more affordable.<\/li>\n<li><b>You\u2019ll have more flexibility in case of emergency. <\/b>Less of your monthly budget goes toward housing costs, which means more money can go toward investing, saving, or achieving other financial goals.<\/li>\n<li><b>You can get a more expensive home. <\/b>The lower payments afforded by a 30-year mortgage mean you have a better chance of qualifying for a bigger mortgage.<\/li>\n<\/ul>\n<p><b><i>Check Out: <\/i><\/b><a href=\"https:\/\/www.credible.com\/blog\/mortgages\/lower-mortgage-payment\/\"><b><i>How to Lower Your Monthly Mortgage Payment<\/i><\/b><\/a><\/p>\n<h3>Cons<\/h3>\n<ul>\n<li><b>You\u2019ll have a higher mortgage rate.<\/b> Because the lender&#8217;s risk is spread over more years, interest rates are typically higher.<\/li>\n<li><b>You\u2019ll spend more on your loan overall.<\/b> Interest costs increase the longer your loan term is.<\/li>\n<li><b>It will take you longer to build equity.<\/b> As such, you may not have as much to work with if you want to tap into your equity when you retire or use it to buy a new home.<\/li>\n<\/ul>\n<p>If you\u2019re considering a home purchase, be sure to shop around for the best rates. Credible allows you to compare all of our partner lenders in minutes.<\/p>\n<p><div class=\"basic-box\" style=\"border: 1px solid #E2E4E6;\"><div class=\"basic-box__inside\"><\/p>\n<h3><span style=\"font-size: x-large;\"><strong>Credible makes finding a mortgage easy<\/strong><\/span><\/h3>\n<h6 class=\"accent--isGrayLight\">Compare prequalified mortgage rates from top lenders in just 3 minutes.<\/h6>\n<ul class=\"list--iconArrow accent--isGreen list--iconCheckmarkSolidCircle\">\n<li>Personalized rates, not generic<\/li>\n<li>One simple, safe TLS-encrypted form<\/li>\n<li>No spam calls from lenders<\/li>\n<li>Checking rates is free, with no commitment<\/li>\n<\/ul>\n<p style=\"text-align: center;\"><a class=\"btn btn-warning\" href=\"https:\/\/www.credible.com\/mortgage\/form\/property-stage?utm_source=wp-credible&amp;utm_medium=mp-box-cta&amp;utm_campaign=seo\" target=\"_blank\" rel=\"noopener\">Find My Rate<\/a><br \/>\n<!-- TrustBox widget - Micro Combo --><\/p>\n<div class=\"trustpilot-widget\" data-locale=\"en-US\" data-template-id=\"5419b6ffb0d04a076446a9af\" data-businessunit-id=\"5536ec090000ff00057eebe7\" data-style-height=\"20px\" data-style-width=\"100%\" data-theme=\"light\"><a href=\"https:\/\/www.trustpilot.com\/review\/www.credible.com\" target=\"_blank\" rel=\"noopener noreferrer\">Trustpilot<\/a><\/div>\n<p><!-- End TrustBox widget --><\/p>\n<p><\/div><\/div><\/p>\n\n<p><a name=\"which-loan-right-for-you\"><\/a><\/p>\n<h2>Which loan term is right for you?<\/h2>\n<p>When deciding between a 15-year or 30-year mortgage, carefully review your monthly income and expenses. A 15-year loan is best if you have a high income and few other debts, you&#8217;re looking for the <a href=\"https:\/\/www.credible.com\/blog\/mortgages\/how-to-get-the-best-mortgage-rate\/\">best mortgage rate<\/a>, or you want to buy a smaller home.<\/p>\n<p>On the other hand, a 30-year loan is best if you have significant expenses or investments elsewhere, or you want to buy a larger property.<\/p>\n\n<table id=\"tablepress-502\" class=\"tablepress tablepress-id-502 table table-border-top table-rounded table-no-img-margin table-capitalized-column-titles\">\n<tbody class=\"row-striping row-hover\">\n<tr class=\"row-1\">\n\t<td class=\"column-1\"><strong>Loan term<\/strong><\/td><td class=\"column-2\"><strong><center>Pros<\/strong><\/td><td class=\"column-3\"><strong><center>Cons<\/strong><\/td>\n<\/tr>\n<tr class=\"row-2\">\n\t<td class=\"column-1\"><strong>15-year<\/strong><\/td><td class=\"column-2\"><div style=\"text-align: left; padding:0px 25px;\"><ul><li>Lower total interest costs<\/li><li>Lower interest rate<\/li><li>Shorter path to owning a home outright and getting out of debt<\/li><\/ul><\/div><\/td><td class=\"column-3\"><div style=\"text-align: left; padding:0px 25px;\"><ul><li>Higher payment<\/li><li>Less money for other financial goals<\/li><li>Limits your home options<\/li><\/ul><\/div><\/td>\n<\/tr>\n<tr class=\"row-3\">\n\t<td class=\"column-1\"><strong>30-year<\/strong><\/td><td class=\"column-2\"><div style=\"text-align: left; padding:0px 25px;\"><ul><li>Lower monthly payment<\/li><li>More flexibility in your budget<\/li><li>More home options<\/li><\/ul><\/div><\/td><td class=\"column-3\"><div style=\"text-align: left; padding:0px 25px;\"><ul><li>Higher total interest costs<\/li><li>Higher interest rate<\/li><\/ul><\/div><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n\n<a name=\"30-year-mortgage-pay-off-early\"><\/a><\/p>\n<p><em><strong>Check out: <a href=\"https:\/\/www.credible.com\/blog\/mortgages\/20-vs-30-year-mortgage\/\">20- vs 30-Year Mortgage: Is an Unusual Option Right for You?<\/a><\/strong><\/em><\/p>\n<h2>Another option: Get a 30-year mortgage and pay it off early<\/h2>\n<p>In the 30-year vs. 15-year mortgage debate, it doesn&#8217;t have to be all or nothing. There&#8217;s a way to combine the flexibility offered by a 30-year mortgage with the interest savings of a shorter term.<\/p>\n<p>If your loan no longer carries a <a href=\"https:\/\/www.credible.com\/blog\/mortgages\/prepayment-penalty\/\">prepayment penalty<\/a>, you can <a href=\"https:\/\/www.credible.com\/blog\/mortgages\/pay-off-early\/\">pay off your mortgage early<\/a>. Simply choose a 30-year term and pay extra toward the principal balance each month. You&#8217;re still building equity more quickly, but you also have the ability to handle other expenses if you need to during one month.<\/p>\n<div class=\"basic-box\" style=\"border: 1px solid #E2E4E6;\"><div class=\"basic-box__inside\"><b>Tip: <\/b>Ask your lender about this approach to make sure the extra payments go toward the principal.<\/div><\/div>\n<p>You can use Credible\u2019s mortgage payoff calculator to find the monthly payment on a 15-year mortgage. If you pay that amount every month on a 30-year loan, you save on interest and build equity faster.<\/p>\n<p>You can also use our <a href=\"https:\/\/www.credible.com\/mortgage\/calculator\/early-mortgage-payoff-calculator\">early mortgage payoff calculator<\/a> to determine how much more you need to pay each month to shorten your payoff timeline.<\/p>\n<div class=\"calculator loan\">\n<div class=\"inputs container\">\n\n\t<p>Enter your loan information<span class=\"hidden-md-up\"> to calculate how much you could pay<\/span><\/p>\n\n  <div class=\"row form-groups\">\n  <div class=\"col-xs-8 col-lg\">\n    <div class=\"form-group\">\n  \t\t<label for=\"loan-amount\">Loan amount<\/label>\n  \t\t<span class=\"badge badge-pill\" data-toggle=\"tip\" data-placement=\"top left\">\n  \t\t\t?\t<span class=\"tip \">\n\t\t<span class=\"tip-content\">Enter the total amount borrowed<\/span>\n\t\t<span class=\"tip-arrow\"><\/span>\n\t<\/span>\n\t  \t\t<\/span>\n  \t\t<span class=\"input-group loan-amount\">\n  \t\t\t<span class=\"input-group-addon\">$<\/span>\n  \t\t\t<input type=\"number\" value=\"250000\" step=\"1000\" name=\"loan-amount\" id=\"loan-amount\" aria-label=\"Loan amount\" class=\"form-control\" inputmode=\"numeric\" pattern=\"[0-9]*\">\n  \t\t<\/span>\n    <\/div>\n  <\/div>\n  <div class=\"col-xs-6 col-lg\">\n    <div class=\"form-group\">\n  \t\t<label for=\"interest-rate\">Interest rate<\/label>\n  \t\t<span class=\"badge badge-pill\" data-toggle=\"tip\" data-placement=\"top left\">\n  \t\t\t?\t<span class=\"tip \">\n\t\t<span class=\"tip-content\">Enter your annual interest rate<\/span>\n\t\t<span class=\"tip-arrow\"><\/span>\n\t<\/span>\n\t  \t\t<\/span>\n  \t\t<span class=\"input-group interest-rate\">\n  \t\t\t<input type=\"number\" value=\"6\" step=\".01\" min=\".01\" max=\"100\" name=\"interest-rate\" id=\"interest-rate\" aria-label=\"Interest rate\" class=\"form-control\">\n  \t\t\t<span class=\"input-group-addon\">%<\/span>\n  \t\t<\/span>\n    <\/div>\n\t\t<span class=\"between\">or<\/span>\n  <\/div>\n  <div class=\"col-xs-6 col-lg\">\n    <div class=\"form-group\">\n  \t\t<label for=\"loan-term\">Fixed loan term<\/label>\n  \t\t<span class=\"badge badge-pill\" data-toggle=\"tip\" data-placement=\"top left\">\n  \t\t\t?\t<span class=\"tip \">\n\t\t<span class=\"tip-content\">Enter the amount of time you have to repay your loan<\/span>\n\t\t<span class=\"tip-arrow\"><\/span>\n\t<\/span>\n\t  \t\t<\/span>\n  \t\t<span class=\"input-group loan-term\">\n  \t\t\t<input name=\"loan-term\" value=\"30\" step=\"1\" min=\"1\" max=\"50\" id=\"loan-term\" aria-label=\"Loan term\" type=\"number\" class=\"form-control\" inputmode=\"numeric\" pattern=\"[0-9]*\">\n  \t\t\t<span class=\"input-group-addon\">years<\/span>\n  \t\t<\/span>\n    <\/div>\n\t<\/div>\n\t<\/div>\n\n<\/div>\n<div class=\"outputs container\">\n\n  <div class=\"results row\">\n  <div class=\"col-xs-6 col-sm-4 col-md-6 col-lg-4\">\n  \tTotal Payment\n  \t<big>$<span class=\"total-payment\"><\/span><\/big>\n  <\/div>\n  <div class=\"col-xs-6 col-sm-4 col-md-6 col-lg-4\">\n  \tTotal Interest\n  \t<big>$<span class=\"total-interest\"><\/span><\/big>\n  <\/div>\n  <div class=\"col-xs-12 col-sm-4 col-md-12 col-lg-4\">\n  \tMonthly Payment\n  \t<big>$<span class=\"monthly-payment\"><\/span><\/big>\n  <\/div>\n  <\/div>\n\n  <p class=\"results-sentence\">\n    With a\n    <strong>$<span class=\"output-loan-amount\"><\/span><\/strong>\n    home    loan, you will pay\n    <strong>$<span class=\"monthly-payment\"><\/span><\/strong>\n    monthly and a total of\n    <strong>$<span class=\"total-interest\"><\/span><\/strong>\n    in interest over the life of your loan. You will pay a total of\n    <strong>$<span class=\"total-payment\"><\/span><\/strong>\n    over the life of the\n    mortgage.\n  <\/p>\n\n  \n  <div class=\"cta\">\n    \n  <\/div>\n\n<\/div>\n<\/div>\n\n","protected":false},"excerpt":{"rendered":"<p>When it comes to getting a mortgage, one of the most important parts to consider is the loan term. Nearly 90% of homebuyers choose a 30-year fixed mortgage, but you&#8217;ll need to consider what&#8217;s right&hellip; <a class=\"more \" href=\"https:\/\/www.credible.com\/blog\/mortgages\/15-vs-30-year-mortgage\/\">Continue reading<\/a><\/p>\n","protected":false},"author":105,"featured_media":46746,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"om_disable_all_campaigns":false,"inline_featured_image":false,"footnotes":""},"categories":[1463],"tags":[1524,1521,1533],"class_list":["post-46745","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-mortgages","tag-mortgage-purchase","tag-mortgage-rates-sidebar","tag-mortgage-types","15-vs-30-year-mortgage-which-ones-right-for-you","post_tag-mortgage-purchase","post_tag-mortgage-rates-sidebar","post_tag-mortgage-types"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.3 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>15- vs. 30-Year Mortgage: Which One&#039;s Right for You? - Credible<\/title>\n<meta name=\"description\" content=\"A mortgage loan term influences your monthly payment and total interest costs. Learn how to weigh your options.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.credible.com\/blog\/mortgages\/15-vs-30-year-mortgage\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"15- vs. 30-Year Mortgage: Which One&#039;s Right for You? - Credible\" \/>\n<meta property=\"og:description\" content=\"A mortgage loan term influences your monthly payment and total interest costs. Learn how to weigh your options.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.credible.com\/blog\/mortgages\/15-vs-30-year-mortgage\/\" \/>\n<meta property=\"og:site_name\" content=\"Credible\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/crediblelabs\/\" \/>\n<meta property=\"article:published_time\" content=\"2020-12-22T17:40:49+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-02-14T22:50:37+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.credible.com\/blog\/wp-content\/uploads\/2020\/12\/15-vs-30-year-mortgage.png\" \/>\n\t<meta property=\"og:image:width\" content=\"1476\" \/>\n\t<meta property=\"og:image:height\" content=\"590\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"Kim Porter\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@kimsavesmoney\" \/>\n<meta name=\"twitter:site\" content=\"@credible\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Kim Porter\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"5 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.credible.com\\\/blog\\\/mortgages\\\/15-vs-30-year-mortgage\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.credible.com\\\/blog\\\/mortgages\\\/15-vs-30-year-mortgage\\\/\"},\"author\":{\"name\":\"Kim Porter\",\"@id\":\"https:\\\/\\\/www.credible.com\\\/blog\\\/#\\\/schema\\\/person\\\/a4e740b4f282d8cba9564a4618797db9\"},\"headline\":\"15- vs. 30-Year Mortgage: Which One&#8217;s Right for You?\",\"datePublished\":\"2020-12-22T17:40:49+00:00\",\"dateModified\":\"2023-02-14T22:50:37+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.credible.com\\\/blog\\\/mortgages\\\/15-vs-30-year-mortgage\\\/\"},\"wordCount\":1032,\"publisher\":{\"@id\":\"https:\\\/\\\/www.credible.com\\\/blog\\\/#organization\"},\"image\":{\"@id\":\"https:\\\/\\\/www.credible.com\\\/blog\\\/mortgages\\\/15-vs-30-year-mortgage\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.credible.com\\\/blog\\\/wp-content\\\/uploads\\\/2020\\\/12\\\/15-vs-30-year-mortgage.png\",\"keywords\":[\"Mortgage Purchase\",\"Mortgage Rates Sidebar\",\"mortgage-types\"],\"articleSection\":[\"Mortgages\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.credible.com\\\/blog\\\/mortgages\\\/15-vs-30-year-mortgage\\\/\",\"url\":\"https:\\\/\\\/www.credible.com\\\/blog\\\/mortgages\\\/15-vs-30-year-mortgage\\\/\",\"name\":\"15- vs. 30-Year Mortgage: Which One's Right for You? - Credible\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.credible.com\\\/blog\\\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\\\/\\\/www.credible.com\\\/blog\\\/mortgages\\\/15-vs-30-year-mortgage\\\/#primaryimage\"},\"image\":{\"@id\":\"https:\\\/\\\/www.credible.com\\\/blog\\\/mortgages\\\/15-vs-30-year-mortgage\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.credible.com\\\/blog\\\/wp-content\\\/uploads\\\/2020\\\/12\\\/15-vs-30-year-mortgage.png\",\"datePublished\":\"2020-12-22T17:40:49+00:00\",\"dateModified\":\"2023-02-14T22:50:37+00:00\",\"description\":\"A mortgage loan term influences your monthly payment and total interest costs. Learn how to weigh your options.\",\"breadcrumb\":{\"@id\":\"https:\\\/\\\/www.credible.com\\\/blog\\\/mortgages\\\/15-vs-30-year-mortgage\\\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/www.credible.com\\\/blog\\\/mortgages\\\/15-vs-30-year-mortgage\\\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/www.credible.com\\\/blog\\\/mortgages\\\/15-vs-30-year-mortgage\\\/#primaryimage\",\"url\":\"https:\\\/\\\/www.credible.com\\\/blog\\\/wp-content\\\/uploads\\\/2020\\\/12\\\/15-vs-30-year-mortgage.png\",\"contentUrl\":\"https:\\\/\\\/www.credible.com\\\/blog\\\/wp-content\\\/uploads\\\/2020\\\/12\\\/15-vs-30-year-mortgage.png\",\"width\":1476,\"height\":590,\"caption\":\"15 vs 30 year mortgage\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/www.credible.com\\\/blog\\\/mortgages\\\/15-vs-30-year-mortgage\\\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\\\/\\\/www.credible.com\\\/blog\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Mortgages\",\"item\":\"https:\\\/\\\/www.credible.com\\\/blog\\\/mortgages\\\/\"},{\"@type\":\"ListItem\",\"position\":3,\"name\":\"15- vs. 30-Year Mortgage: Which One&#8217;s Right for You?\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/www.credible.com\\\/blog\\\/#website\",\"url\":\"https:\\\/\\\/www.credible.com\\\/blog\\\/\",\"name\":\"Credible\",\"description\":\"Getting borrowers connected to the right information for student loan refinancing, student loans, and personal loans.\",\"publisher\":{\"@id\":\"https:\\\/\\\/www.credible.com\\\/blog\\\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\\\/\\\/www.credible.com\\\/blog\\\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\\\/\\\/www.credible.com\\\/blog\\\/#organization\",\"name\":\"Credible\",\"url\":\"https:\\\/\\\/www.credible.com\\\/blog\\\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/www.credible.com\\\/blog\\\/#\\\/schema\\\/logo\\\/image\\\/\",\"url\":\"https:\\\/\\\/www.credible.com\\\/blog\\\/wp-content\\\/uploads\\\/2017\\\/01\\\/Picture1.png\",\"contentUrl\":\"https:\\\/\\\/www.credible.com\\\/blog\\\/wp-content\\\/uploads\\\/2017\\\/01\\\/Picture1.png\",\"width\":901,\"height\":196,\"caption\":\"Credible\"},\"image\":{\"@id\":\"https:\\\/\\\/www.credible.com\\\/blog\\\/#\\\/schema\\\/logo\\\/image\\\/\"},\"sameAs\":[\"https:\\\/\\\/www.facebook.com\\\/crediblelabs\\\/\",\"https:\\\/\\\/x.com\\\/credible\",\"https:\\\/\\\/www.instagram.com\\\/credible\\\/\",\"https:\\\/\\\/www.linkedin.com\\\/company\\\/crediblelabs\"]},{\"@type\":\"Person\",\"@id\":\"https:\\\/\\\/www.credible.com\\\/blog\\\/#\\\/schema\\\/person\\\/a4e740b4f282d8cba9564a4618797db9\",\"name\":\"Kim Porter\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/www.credible.com\\\/blog\\\/wp-content\\\/uploads\\\/2019\\\/02\\\/c2e3dbd7207faf78a8670d8cab746862-150x150.png\",\"url\":\"https:\\\/\\\/www.credible.com\\\/blog\\\/wp-content\\\/uploads\\\/2019\\\/02\\\/c2e3dbd7207faf78a8670d8cab746862-150x150.png\",\"contentUrl\":\"https:\\\/\\\/www.credible.com\\\/blog\\\/wp-content\\\/uploads\\\/2019\\\/02\\\/c2e3dbd7207faf78a8670d8cab746862-150x150.png\",\"caption\":\"Kim Porter\"},\"description\":\"Kim Porter is an expert in credit, mortgages, student loans, and debt management. She has been featured in U.S. News &amp; World Report, Reviewed.com, Bankrate, Credit Karma, and more.\",\"sameAs\":[\"https:\\\/\\\/www.linkedin.com\\\/in\\\/kim-porter-157b82101\\\/\",\"https:\\\/\\\/x.com\\\/kimsavesmoney\"],\"url\":\"https:\\\/\\\/www.credible.com\\\/blog\\\/author\\\/kim-porter\\\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"15- vs. 30-Year Mortgage: Which One's Right for You? - Credible","description":"A mortgage loan term influences your monthly payment and total interest costs. Learn how to weigh your options.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.credible.com\/blog\/mortgages\/15-vs-30-year-mortgage\/","og_locale":"en_US","og_type":"article","og_title":"15- vs. 30-Year Mortgage: Which One's Right for You? - Credible","og_description":"A mortgage loan term influences your monthly payment and total interest costs. Learn how to weigh your options.","og_url":"https:\/\/www.credible.com\/blog\/mortgages\/15-vs-30-year-mortgage\/","og_site_name":"Credible","article_publisher":"https:\/\/www.facebook.com\/crediblelabs\/","article_published_time":"2020-12-22T17:40:49+00:00","article_modified_time":"2023-02-14T22:50:37+00:00","og_image":[{"width":1476,"height":590,"url":"https:\/\/www.credible.com\/blog\/wp-content\/uploads\/2020\/12\/15-vs-30-year-mortgage.png","type":"image\/png"}],"author":"Kim Porter","twitter_card":"summary_large_image","twitter_creator":"@kimsavesmoney","twitter_site":"@credible","twitter_misc":{"Written by":"Kim Porter","Est. reading time":"5 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.credible.com\/blog\/mortgages\/15-vs-30-year-mortgage\/#article","isPartOf":{"@id":"https:\/\/www.credible.com\/blog\/mortgages\/15-vs-30-year-mortgage\/"},"author":{"name":"Kim Porter","@id":"https:\/\/www.credible.com\/blog\/#\/schema\/person\/a4e740b4f282d8cba9564a4618797db9"},"headline":"15- vs. 30-Year Mortgage: Which One&#8217;s Right for You?","datePublished":"2020-12-22T17:40:49+00:00","dateModified":"2023-02-14T22:50:37+00:00","mainEntityOfPage":{"@id":"https:\/\/www.credible.com\/blog\/mortgages\/15-vs-30-year-mortgage\/"},"wordCount":1032,"publisher":{"@id":"https:\/\/www.credible.com\/blog\/#organization"},"image":{"@id":"https:\/\/www.credible.com\/blog\/mortgages\/15-vs-30-year-mortgage\/#primaryimage"},"thumbnailUrl":"https:\/\/www.credible.com\/blog\/wp-content\/uploads\/2020\/12\/15-vs-30-year-mortgage.png","keywords":["Mortgage Purchase","Mortgage Rates Sidebar","mortgage-types"],"articleSection":["Mortgages"],"inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/www.credible.com\/blog\/mortgages\/15-vs-30-year-mortgage\/","url":"https:\/\/www.credible.com\/blog\/mortgages\/15-vs-30-year-mortgage\/","name":"15- vs. 30-Year Mortgage: Which One's Right for You? - Credible","isPartOf":{"@id":"https:\/\/www.credible.com\/blog\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.credible.com\/blog\/mortgages\/15-vs-30-year-mortgage\/#primaryimage"},"image":{"@id":"https:\/\/www.credible.com\/blog\/mortgages\/15-vs-30-year-mortgage\/#primaryimage"},"thumbnailUrl":"https:\/\/www.credible.com\/blog\/wp-content\/uploads\/2020\/12\/15-vs-30-year-mortgage.png","datePublished":"2020-12-22T17:40:49+00:00","dateModified":"2023-02-14T22:50:37+00:00","description":"A mortgage loan term influences your monthly payment and total interest costs. Learn how to weigh your options.","breadcrumb":{"@id":"https:\/\/www.credible.com\/blog\/mortgages\/15-vs-30-year-mortgage\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.credible.com\/blog\/mortgages\/15-vs-30-year-mortgage\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.credible.com\/blog\/mortgages\/15-vs-30-year-mortgage\/#primaryimage","url":"https:\/\/www.credible.com\/blog\/wp-content\/uploads\/2020\/12\/15-vs-30-year-mortgage.png","contentUrl":"https:\/\/www.credible.com\/blog\/wp-content\/uploads\/2020\/12\/15-vs-30-year-mortgage.png","width":1476,"height":590,"caption":"15 vs 30 year mortgage"},{"@type":"BreadcrumbList","@id":"https:\/\/www.credible.com\/blog\/mortgages\/15-vs-30-year-mortgage\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.credible.com\/blog\/"},{"@type":"ListItem","position":2,"name":"Mortgages","item":"https:\/\/www.credible.com\/blog\/mortgages\/"},{"@type":"ListItem","position":3,"name":"15- vs. 30-Year Mortgage: Which One&#8217;s Right for You?"}]},{"@type":"WebSite","@id":"https:\/\/www.credible.com\/blog\/#website","url":"https:\/\/www.credible.com\/blog\/","name":"Credible","description":"Getting borrowers connected to the right information for student loan refinancing, student loans, and personal loans.","publisher":{"@id":"https:\/\/www.credible.com\/blog\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.credible.com\/blog\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/www.credible.com\/blog\/#organization","name":"Credible","url":"https:\/\/www.credible.com\/blog\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.credible.com\/blog\/#\/schema\/logo\/image\/","url":"https:\/\/www.credible.com\/blog\/wp-content\/uploads\/2017\/01\/Picture1.png","contentUrl":"https:\/\/www.credible.com\/blog\/wp-content\/uploads\/2017\/01\/Picture1.png","width":901,"height":196,"caption":"Credible"},"image":{"@id":"https:\/\/www.credible.com\/blog\/#\/schema\/logo\/image\/"},"sameAs":["https:\/\/www.facebook.com\/crediblelabs\/","https:\/\/x.com\/credible","https:\/\/www.instagram.com\/credible\/","https:\/\/www.linkedin.com\/company\/crediblelabs"]},{"@type":"Person","@id":"https:\/\/www.credible.com\/blog\/#\/schema\/person\/a4e740b4f282d8cba9564a4618797db9","name":"Kim Porter","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.credible.com\/blog\/wp-content\/uploads\/2019\/02\/c2e3dbd7207faf78a8670d8cab746862-150x150.png","url":"https:\/\/www.credible.com\/blog\/wp-content\/uploads\/2019\/02\/c2e3dbd7207faf78a8670d8cab746862-150x150.png","contentUrl":"https:\/\/www.credible.com\/blog\/wp-content\/uploads\/2019\/02\/c2e3dbd7207faf78a8670d8cab746862-150x150.png","caption":"Kim Porter"},"description":"Kim Porter is an expert in credit, mortgages, student loans, and debt management. She has been featured in U.S. News &amp; World Report, Reviewed.com, Bankrate, Credit Karma, and more.","sameAs":["https:\/\/www.linkedin.com\/in\/kim-porter-157b82101\/","https:\/\/x.com\/kimsavesmoney"],"url":"https:\/\/www.credible.com\/blog\/author\/kim-porter\/"}]}},"_links":{"self":[{"href":"https:\/\/www.credible.com\/blog\/wp-json\/wp\/v2\/posts\/46745","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.credible.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.credible.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.credible.com\/blog\/wp-json\/wp\/v2\/users\/105"}],"replies":[{"embeddable":true,"href":"https:\/\/www.credible.com\/blog\/wp-json\/wp\/v2\/comments?post=46745"}],"version-history":[{"count":15,"href":"https:\/\/www.credible.com\/blog\/wp-json\/wp\/v2\/posts\/46745\/revisions"}],"predecessor-version":[{"id":66820,"href":"https:\/\/www.credible.com\/blog\/wp-json\/wp\/v2\/posts\/46745\/revisions\/66820"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.credible.com\/blog\/wp-json\/wp\/v2\/media\/46746"}],"wp:attachment":[{"href":"https:\/\/www.credible.com\/blog\/wp-json\/wp\/v2\/media?parent=46745"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.credible.com\/blog\/wp-json\/wp\/v2\/categories?post=46745"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.credible.com\/blog\/wp-json\/wp\/v2\/tags?post=46745"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}