Studies in the U.S. have shown that the average person moves every seven years. If you have a long amortization period, with lower frequency payments, you pay a much larger portion of the interest up-front (see the resulting tables in your calculations. If you move frequently, you may not be "getting ahead" and are spending most of your money paying interest - pay down your principle amount ASAP. To see how big an effect your amortization period has on your mortgage, use this tool.

Input your home's cost and any downpayment you may have. Then select your estimated interest rate over the full amortization period and your payment frequency (monthy, weekly, etc). Finally, choose up to three different amortization periods.

This calculator will show you how much you will save in interest payments by selecting a shorter amortization period.

Amortization schedule and chart
Basic Mortgage Data
Anticipated Amount of House	$
Amount of Down Payment	$
Payment Period
Anticipated Interest Rate:	3.00% 3.25% 3.50% 3.75% 4.00% 4.25% 4.50% 4.75% 5.00% 5.25% 5.35% 5.50% 5.75% 6.00% 6.25% 6.50% 6.75% 7.00% 7.25% 7.50% 7.75% 8.00%
Amortization Periods to Compare
15 Years 20 Years 25 Years