Your monthly payment for 30-year is $954.83,
For 15-year is $1,369.17.
By paying ~$400 more each month (which is still very bearable at $1,369.17 monthly total), you have a free and clear property in half time.
On a ballpack estimate, during the 15-year period, you would have saved an average about $1,200 annual interest by paying additional $4800 per year ( as compared to 30-year term), that's a 25% simple rate of return for 15 years. Where can you get better and safer return than that - consistent 25% return for 15 years? Note this is the average return over 15 years. The first year return is actually even higher - $2,250 on $4,800, which is almost 50% return. If you are going to move, say, in 5 years, that makes even more sense.
Seems no brainer to me.
