Compare these mortgage payment amounts with the 15 year rates in the other table. It really isn't much more, but that can make a big difference if you have a tight budget or if you are stretching to qualify for a loan or if you live in an area like California with high housing prices. The main reason for the loan terms being so different is that the extra amount that you pay goes directly against mortgage principal and so the amount that you owe reduces much faster.
Try one of the calculators in the ads at the right to get a personalized comparison.
| Mortgage Amount | 6.5% | 7.0% | 7.5% | 8.0% |
| $50,000 | $317 | $333 | $350 | $367 |
| $60,000 | $380 | $399 | $420 | $440 |
| $70,000 | $443 | $466 | $489 | $514 |
| $80,000 | $506 | $532 | $559 | $587 |
| $90,000 | $570 | $599 | $629 | $660 |
| $100,000 | $633 | $665 | $699 | $734 |
| $120,000 | $759 | $798 | $839 | $881 |
| $140,000 | $885 | $932 | $979 | $1,027 |
| $160,000 | $1,011 | $1,065 | $1,110 | $1,174 |
| $180,000 | $1,137 | $1,198 | $1,259 | $1,320 |
| $200,000 | $1,264 | $1,330 | $1,398 | $1,468 |
| $220,000 | $1,391 | $1,464 | $1,538 | $1,614 |
| $240,000 | $1,517 | $1,597 | $1,678 | $1,761 |
| $260,000 | $1,643 | $1,710 | $1,818 | $1,908 |
| $280,000 | $1,770 | $1,863 | $1,959 | $2,055 |
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