Compare 30 year vs 15 year mortgage

More than 5 million homes get sold in the country each year. Assuming 80% of them are financed through a mortgage – 4 million households face the question ’30 year vs 15 year mortgage’ every year (and in my opinion 90% – 3.6 Million – do not understand all the differences):

How to compare 30 year vs 15 year mortgage?

 First off – there is no straight forward answer to the decision between 30 year mortgage vs 15 year mortgage, here is a screenshot of an Excel spreadsheet that I developed to make my decision:

30 year vs 15 year mortgage

30 year vs 15 year mortgage


What are the factors that go into that decision?

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