20-year fixed mortgage rates
Find and compare the best 20-year fixed mortgage rates from 40+ lenders in your area.
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20-Year Fixed Mortgage Rates
NerdWallet’s mortgage rate tool can help you find competitive, 20-year fixed mortgage rates customized for your needs. Just enter some information about the type of loan you’re looking for and you’ll get a personalized rate quote in minutes, without providing any personal information. From there, you can start the process to get preapproved for your home loan and be on your way to making offers. It’s that easy.
What is a 20-year fixed-rate mortgage?
A 20-year fixed-rate mortgage maintains the same interest rate and monthly payment over the 20-year loan period. The 20 year fixed-rate mortgage allows the borrower to pay off the mortgage faster and typically has a low interest rate when compared to common 30 year fixed-rate mortgages. But monthly payments are usually higher than with 30 year fixed-rate mortgages.
When should you consider a 20-year fixed-rate mortgage?
With lower interest rates and a shorter payoff period than a 30-year fixed-rate mortgage, and lower monthly payments than a 15-year fixed-rate mortgage, the 20-year fixed rate hits the sweet spot for some borrowers. It also offers stability and peace of mind because your monthly payment won’t change no matter what happens to inflation or market interest rates.