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20 Year Fixed Rate Mortgage

Features & benefits

  • This mortgage has a fixed interest rate for 20 years. The monthly payment is sufficient to pay back the entire loan in 20 years rather than 30. Interest savings is a result of quicker payoff and maybe even greater if the 20-year rate is lower than the 30-year rate.
  • You have fixed-rate security for the entire loan term and a more rapid build-up of equity. There is also significant interest savings. This mortgage is helpful if you plan to stay in the house long term.


There is a higher monthly payment than a 30-year loan due to a shorter term. The rate may still be higher than the initial ARM rate.


Some borrowers can save money and pay off their mortgages sooner by making bi-weekly payments.

Mortgage details

Loan purposeLoan amountMaximum loan-to-valueMortgage insurance requiredTerms
Purchase$0-$766,550 0.00%-80.00%No20
Purchase$0-$766,550 80.01%-95.00%Yes20
No Cash-Out Refinance$0-$766,550 0.00%-80.00%No20
No Cash-Out Refinance$0-$766,550 80.01%-95.00%Yes20
Cash-Out Refinance$0-$766,550 0.00%-80.00%No20

Displayed product information is valid for a one unit property only. For information on a property with more than one unit, please call 1-877-261-2820.

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