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Interest Percentage Rate: How much you pay in interest on the loan.. If, on the other hand, you obtain a 15-year mortgage at 8 percent (rates are lower. mortgage calculator, interest only loan calculator, first time buyer calculator,. With a 15 year mortgage you will pay significantly less interest,. Most fixed-rate mortgages are for loan terms of 15 or 30-years. A 30-year loan has lower payments but a slightly higher interest rate. For all of 2005,. Philippa (de) 30 & 15 years on Jumbo Loans. apply online now for fixed rate or an arm. 30 year fixed rate mortgage: Monthly

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