<prompt> Human: I have a 30 year loan on 150k, which Ive had for 8 years. About 4 years ago, i wanted to get rid of PMI so i paid a large sum. I only owe 85k on the loan right now because Ive been making extra payments. The interest rate is 4.25. I usually put an extra 300 a month towards this mortgage making my total payment with everything included 1500.My mortgage guy claims if i went to a 15 year loan at the same interest rate and made the exact same monthly payments 1500, that I would be paid off earlier because of the amortization schedule.That cant be right can it? Same payment, Same interest rate, i should have both loans paid off in the same time? He claims the 30 year Im in now has more interest up front. If thats true, then i should definitely be recasting my loan or refinancing - why would i pay interest based on a big 30 year mortgage?  <response>: He doesnt make any money if you dont refinance. It seems like a bold move to lie about it but maybe he is just an idiot. Either way means you should never do business with this person. 