The loan comparison calculator tool is very useful if you are trying to decide between two different types of loans. If you can afford it, I highly recommend only using a 15 year fixed rate or variable rate mortgage loans. You will receive a much lower interest rate, the principal amount will be paid off much more quickly, and you will pay far less over the life of the loan. Possibly even hundreds of thousands of dollars less. If you are just beginning your home search, use this calculator to find out how much home you can afford on a 15-year loan vs. a 30-year loan and work from there.