<human>:  What is the difference between a 15 year mortgage and a 30 year mortgage?
<bot>: The primary difference between a 15 year mortgage and a 30 year mortgage is their payment terms. A 15 year mortgage typically requires a higher monthly payment than a 30 year mortgage, but it will allow the borrower to pay off the loan in half the time. Additionally, 15 year mortgages generally have lower interest rates than 30 year mortgages.