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20 Year Mortgage Rates

The main feature of the lowest fixed-rate mortgage loan is that the current mortgage rates and the monthly payments for principal and interest are constant for the entire loan period. Borrowers of a fixed-rate loan are given a loan amortization schedule at settlement that states the exact amount of their principal and interest payments for the entire loan period.

The percentage of the payment that is allocated to interest and to reducing the principal balance will change over time, but the monthly payment for principal and interest will not. The housing payment may change for borrowers who pay their property taxes and homeowners insurance through an escrow account with their mortgage payment because these bills adjust over time.

With the 20 year home loan, you end up paying more interest then the 15 year loan but if you want a lower payment then the 20 year loan is the way to go. Plus, you save tens of thousands of dollars in interest by shortening the term of the loan from a 30 year program. Note: This is only a rough sample for educational purposes. Always be sure to review APR and closing costs when choosing a provider and program.

20 Year Mortgage Rates Reviewed

20 Year Mortgage Rates as compared to other Mortgage Lenders can be seen in the table below

Best Mortgage

Rates

Ratings

Rating and

Total Score

Time to get an interest rate quote (avg.)

Closing costs

on fixed and variable rate home mortgages

Interest Rate on

home mortgage loans (changes daily)

SpeedTrack

Loans

Read Review

Rating - 5 stars

Top Rated

Less then 2 minutes

Lowest

Lowest

Get a Quote

Quicken Loans

Read Review

Rating - 4.5 stars

Good

10 minutes

Medium

Low

Bank of America

Read Review

Rating - 4.4 stars

Good

10-15 minutes

Medium

Low

Wells Fargo

Read Review

Rating - 4.3 stars

Very good

10-15 minutes

Low

Low

ING Direct

Read Review

Rating - 4.1 stars

Very Good

10-15 minutes

Low

Low

CitiBank

Read Review

Rating - 4.0 stars

Good

10-15 minutes

Medium

Low

20 Year Mortgage Rates

The survey shown above is intended to help you find the best mortgage rates from a group of lenders

We are here to help you

You will get company reviews, rankings, and ratings. Both lender and servicing companies are reviewed

and included contact information as many people need to contact theses companies for a new loan.

Help with your online application

To get an estimated payment enter the approximate amount you plan to borrow. Rates are quoted on

expectation of either a 0% or 20% down payment depending on the loan types available.

Best Mortgage Rates is at your service

You will get company reviews, rankings, and ratings. Both lender and servicing companies are

reviewed and included contact information as many people need to contact theses companies for

a new loan or to work out loan modifications.

We do Business in Accordance with Federal Fair Lending Laws

UNDER THE FEDERAL FAIR HOUSING ACT, IT IS ILLEGAL, ON THE BASIS OF RACE, COLOR, NATIONAL ORIGIN, RELIGION, SEX, HANDICAP, OR FAMILIAL STATUS (HAVING CHILDREN UNDER THE AGE OF 18), TO:

Deny a loan for the purpose of purchasing, constructing, improving, repairing, or maintaining a dwelling, or to deny any loan secured by a dwelling; or
Discriminate in fixing the amount, interest rate, duration, application procedures, or other terms or conditions of such a loan, or in appraising property.

IF YOU BELIEVE YOU HAVE BEEN DISCRIMINATED AGAINST, YOU SHOULD SEND A COMPLAINT TO:

Assistant Secretary for Fair Housing and Equal Opportunity
Department of Housing and Urban Development
Washington, DC 20410
For processing under the Federal Fair Housing Act

AND TO

Office of the Comptroller of the Currency
Customer Assistance Unit
1301 McKinney Street, Suite 3450
Houston, TX 77010-9050