What it means
The term is how many years you take to repay the mortgage. This compares monthly cost and total interest across different lengths.
Comparing
Mortgage term calculator
Shorter or longer: monthly cost versus total interest.
Why it matters
A longer term makes each month easier but usually means you pay more interest overall. A shorter term does the opposite.
When to use it
Use it when choosing a term with a lender or broker, or when deciding whether stretching the years is worth the monthly relief.
How to read the result
Watch both the monthly figure and the total interest. Pick the shortest term you can still pay comfortably every month.
Your figures
Compared with 15, 20, 25, 30, 35 and 40 year terms.
Methodology
Rules checked against published sources as of 2025-04-01.
- The same loan and rate are applied across preset terms from 15 to 40 years plus your custom term.
- Shorter terms raise the monthly payment and usually cut total interest.
Related calculators
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Pair the numbers with area intelligence for a postcode.
FAQs
Should I always choose the shortest term?
Not necessarily. A shorter term costs more each month. Affordability and other goals matter too.