15-Year vs. 30-Year Mortgage: Which One Makes Sense for You?
Let’s be honest—when you’re buying a home, your mortgage term probably isn’t the first thing keeping you up at night. You’re thinking about down payments, interest rates, inspections, and whether the neighbor’s dog barks too much. But here’s the deal: deciding between a 15-year and 30-year mortgage could save (or cost) you tens of thousands of dollars over time.
This isn’t about right or wrong. It’s about what works best for you, your goals, and your cash flow—especially here in Denver, where prices are high and every dollar counts. Let’s break it down like we would if we were sitting across the table from each other, coffee in hand.
At a glance, it’s simple:
But there’s more to the story than just numbers on a spreadsheet.
Pros:
Cons:
Who it’s best for:
If you have strong, stable income and want to prioritize long-term savings over short-term flexibility, the 15-year can be a powerhouse. Especially if being debt-free sooner is part of your game plan.
Pros:
Cons:
Who it’s best for:
If you're early in your career, juggling other financial goals, or just want a little more flexibility month-to-month, the 30-year is a smart, steady choice.
Honestly? It depends on you.
Here’s what we walk clients through:
It’s not about impressing anyone with how fast you can pay it off. It’s about making smart choices that let you live your life and sleep at night.
We've seen buyers thrive with both types of loans—and we've seen people burn out because they picked the wrong one for their lifestyle. So here’s our advice:
Don’t just chase the lowest interest rate. And don’t overextend yourself trying to be “mortgage-free by 45” if it means you can’t go out to dinner or take a vacation for 15 years.
Your mortgage should work for you, not the other way around.
Let’s run the numbers together. We will show you side-by-side comparisons for both options—real payments, real interest totals, and how different pay-down strategies can play out in the Denver market.
You don’t need to figure it all out alone. We’re here to help you make smart, confident moves toward your next home.
Are you ready to live Happily Everetts After?
Let’s talk.
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