<prompt> Human: Im looking into purchasing a home possibly via FHA loan. Im trying to choose between 30 and 15 year mortgages. Its my understanding that a 30-year will have a better interest rate. So my question is: if I got with a 30-year and pay it off in 15 years, am I saving money or will I still end up paying the interest owed or something like that.I ask because the home includes a rental property so if Im able to rent it out then making close to double payments will be easy, but it wont always be occupied so theres that.Thanks!Edit: Ok I guess this was a dumb question because I misunderstood the interest rates. Thanks for the help anyway!  <response>: 15 year should normally have a better interest rate than a 30 year loan. You pay more for having smaller payments and for having longer to pay it back. So getting a 30 year mortgage and making double payments would cost you more in interest than a 15 year paid off at the same time, but you would also have the option of paying less of you get in to a pinch. 