However, the total interest on the 15-year loan would only be $162,955.13 compared to $436,781.99 on a 30-year loan. Similarly, the total payments would amount to $482,955.13 compared to $756,781.99 on a 30-year loan. In other words, you’d save $273,826.86 in the long run by opting for a 15-year mortgage. The Home Mortgage Disclosure Act (HMDA) …

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