20-Year
Mortgage Rates

Curious about the down payment or the interest rate on this mortgage? Check out today's rates.

Conventional 20-Year Fixed

Rates for Primary Home Purchase
Interest Rate

5.5%

APR

5.644%

Loan Amount

$375,000

Down Payment

25.00%

Term

20 Years

Monthly Principal & Interest Payment (Excludes taxes and hazard insurance)

$2,580.00

Estimated Points

0.857

Disclosures, Assumptions & APR Information
Rates, terms, and fees as of December 1, 2022 12:58 pm and subject to change without notice.

Mortgage interest rates shown are based on a 30-day lock for the purchase of a primary residence. Rates shown include 0.857 discount point. All loans are subject to borrower meeting Fannie Mae approval guidelines.

Rates and terms subject to change based on market conditions and borrower eligibility. The rates shown are based upon a variety of conditions and circumstances. These include a consumer credit score which may vary from your individual credit score. A loan’s interest rate depends upon the specific features of the loan transaction and the borrower’s credit profile up to the time of closing. The advertised rates for 20-year fixed conventional products are based on an assumed loan amount of $375,000.00, $500,000.00 purchase transaction of primary residence, a 780 FICO score with a loan-to-value ratio of 75% maximum (25% Down-Payment) on a primary single family home. The annual percentage rate (APR), is the expense paid for credit over the loan term expressed as an annual rate. The Annual Percentage Rate (APR) displayed for the loan products shown here reflects interest rate and approximate cost of prepaid finance charges / discount points based on rate scenarios shown. The cost of prepaid finance charges are approximations which do not constitute and are not a substitute for the Loan Estimate of Closing Costs (LE) that a borrower receives once they apply for a loan. All conventional loans with a down payment of less than 20% require mortgage insurance. Mortgage insurance may increase the monthly payment and Annual Percentage Rate (APR) of the loan. For more information regarding our various loan products including no points or closing cost options, please contact us at (407) 704-8729
Please remember that we don’t have all your information. Therefore, the rate and payment result you see may not reflect your actual situation. Mortgage Expert, Inc. offers a wide variety of loan options. You may still qualify for a loan even if your situation doesn’t match our assumptions. To get more accurate and personalized results, please call (407) 704-8729 to talk to a licensed loan originator.
Due to various federal, state and local requirements, certain products may not be available in all areas.
The monthly payment amount displayed includes principal and interest. The payment amount does not include homeowner’s insurance or property taxes which must be paid in addition to your loan payment.

These mortgage rates are based upon a variety of assumptions and conditions which include a consumer credit score which may be higher or lower than your individual credit score. Your loan’s interest rate will depend upon the specific characteristics of your loan transaction and your credit profile up to the time of closing. For more information, please contact us.

20-Year Mortgage Rates

Whether you're considering a 20-year fixed-rate mortgage, 15-year mortgage or 30-year mortgage, my rates are unbeatable. Whether you're just starting to shop for a home loan or you're ready to get pre-approved, I'll give you all your 20-year mortgage options, including no closing cost options. Get a free, no obligation rate quote today-- no personal information required.

What are 20-year fixed-rate mortgages?

Unlike adjustable rate mortgages, a 20-year fixed-rate mortgage is a home loan which carries the same interest rate and monthly payment throughout the entire 30 year loan term. 20-year fixed-rate mortgages are provide the added security and predictability of a consistent payment, which in turn allows you to purchase a more expensive home.

Who should consider a 20-year fixed-rate mortgage?

If you're looking for a consistent payment which will remain constant regardless of inflation or shifts in the bond market with a lower interest rate than a 30-year mortgage, a 20-year fixed-rate mortgage is the best option for you.

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Top 20 Year Mortgage Questions

What are the credit score requirements for 20-year mortgages?

20-year mortgages, just like 30 year mortgages and 15 year mortgages, require a minimum credit score of 620. If your credit has some dings, you may want to consider an FHA loan, which can go as low as 580.

What is the maximum debt-to-income ratio for 20-year mortgages?

Your debt-to-income (DTI) ratio is the percentage of your income which goes to paying current debts. For a 30-year fixed-rate mortgage the maximum qualifying DTI is typically 45%. That said, depending on your credit score and cash reserves, some borrowers can still qualify with a DTI as high as 50%.

What is the minimum downpayment for 20-year mortgages?

The absolute lowest downpayment available for 20-year fixed-rate mortgages varies based on the buyer’s situation. If you’re a first-time home buyer, you can put as little as 3% down so long as you’re purchasing a primary residence. If you’re not a first-time home buyer and you’re purchasing a primary residence, the minimum downpayment is 5%.

What if I have some derogatory events on my credit report?

Most everyone has a had a few dings on their credit at some point. To qualify for a 30-year fixed-rate mortgage, you must meet the following requirements: 
  • No bankruptcies in the last 4 years
  • No short sales in the last 4 years
  • No foreclosures in the last 7 years (4 years if it was included in bankruptcy)

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All rights reserved © 2022 Mortgage Expert, Inc. NMLS ID: 2412313 Location: 142 W Lakeview Ave, Suite 2050, Lake Mary, FL 32746 | Phone: (407) 955-9235 Content provided by Shahram Sondi The information provided on this site is for basic informational purposes only and IS NOT intended as a substitute for professional or legal advice. Notice: My Town Realty (License #: CQ1049127) and Mortgage Expert (NMLS ID: 2412313) are both wholly-owned entities of Shahram Sondi (NMLS ID: 186790, License #: BK3225742). Due to this relationship, any referral between these two entities has the potential to financially benefit Shahram Sondi. Under no circumstance are you required to engage the services of one or both of these entities. View $1000 Best Rate Guarantee Terms & Conditions
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