What are the differences in payments with a 15 year note vs a 30 year note?

You can go to google and search free mortgage calculator and put in your specifics, and you will see the difference. But no, it is not twice the amount for a 30 year loan.
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If it’s something that you’re considering, I will share what we did. At our current combined income, we could have afforded a 15 or 20 year loan. However, if my husband were to lose his job or quit we would have been okay for about a year. What we chose to do is a 30 year mortgage and we make an extra principal only payment every month. The extra payment is about 60% of our regular payment. And we did not set this up to happen automatically with our regular payment. We wanted the wiggle room in case something came up that made it difficult to make that extra payment. (Things like major car or home repair.)

The payments aren’t neraly 2 times as much, because there are 15 years less interest and often the rate on a 15 year loan is lower. Not as many 15 year loans default as 30 year. We refinanced a home from a 30 year to 15 year fixed. THe interest rate had come down a bit since the original mortgage was issued. The 15 year in that case ended up costing us about 16% per month more than the 30 year. But it all depends on the rate the 30 year mortgage caries, and what you can get on a new 15 year. It is definitely worth looking into with rates as low as they are now.

BTW, @tedibear gets close to the same thing with far less risk of overreaching. Think the equation through to fit your situation.

Thank you all SO much! You just made my world a better place!