The bottom line is simple: You want to pay off your debt as quickly as you can. That’s just sound financial advice. So when choose a 15 vs 30 year mortgage, you should always opt for the 15 year mortgage if at all possible. A 15 year mortgage will save you money in interest and once you pay off the loan, you will have a lot more money to save or spend on other necessities. Getting a 30 year mortgage only draws out the payment process and ensures that you will be in debt for much longer that is necessary.