15 vs. 30 Yr Mortgages
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 calculator to compare these two mortgage terms, and let us help you decide which term is better for you.
Definitions
- Mortgage amount
- Original or expected 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 potential income tax savings by deducting your mortgage interest.
- Monthly payment
- Monthly principal and interest payment (PI). Both 30 year and 15 year mortgages are shown.
- Total payments
- Total of all monthly payments over the full term of the mortgage. Both 30 year and 15 year mortgages are shown.
- Total interest
- Total of all interest paid over the full term of the mortgage. Both 30 year and 15 year mortgages are shown.
The mortgage calculators are provided by KJE Computer Solutions, LLC and made available to NUMBER1EXPERT as self-help tools for your independent use and are not intended to provide investment advice. We can't 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 issues.
Selling Your Home >Marketing Techniques
When a seller lists a home with a real estate agent, a lot of brainstorming follows. Who are the potential buyers, where do they live and work? How can they be reached effectively with information that will attract them to this particular property?
In addition to advertising each home on the widely used Multiple Listing Service, professional real estate agents employ marketing techniques tailored to the individual home they are selling. An agent will review various buyer lists to find potential purchasers. They will use telephone and direct mail marketing, produce property flyers and advertise on the Internet, in the newspaper, in community publications and in real estate magazines. Contacts will be made to other agents who sell homes in the area to encourage them to show the home to prospective buyers.
Real estate agents combine pro-active marketing with realistic pricing to generate results for their home sellers.
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| Q |
What are the financial benefits of having a home near a body of water?
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| A |
The mere presence of water within 300 feet increases a home's value by 22 percent. |
 See More Real Estate Trivia > |
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All rights reserved. All information deemed reliable but not guaranteed.
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