20-Year Mortgage Calculator.
The middle path. Costs roughly 15% more per month than a 30-year, but cuts total interest by about 35%. Underused — most borrowers default to 15 or 30 without considering this option.
A $380,000 loan at 6.25% over 20 years = monthly payment of $2,778, total interest $286,607. Adjust amount and rate in the calculator below.
Mortgage Calculator
Is the 20-year right for you?
✅ Pros
- →Lower rate than 30-year (~25-50 bps less)
- →Total interest savings of ~35% vs 30-year
- →More manageable monthly payment than 15-year
- →Strong middle ground for risk-balanced families
⚠️ Cons
- →Less common — fewer lenders offer it
- →Less marketing attention than 15- or 30-year
- →Rate spread vs 30-year is smaller than 15-year vs 30-year
- →May not be the optimal interest-saving option vs 15-year
Ideal borrower profile
- ✓ Buyers who want to pay off mortgage faster than 30-year but can't stretch to a 15-year payment
- ✓ Refinancers extending or shortening from an existing loan
- ✓ Borrowers in mid-career who want to be mortgage-free in their 50s
- ✓ Those balancing aggressive payoff with retirement savings
How the 20-year compares.
Same $380,000 loan, different terms. Each at the typical rate for that term.
| Term | Rate | Monthly | Total Interest | Total Paid |
|---|---|---|---|---|
| 10 yr | 5.75% | $4,171 | $120,548 | $500,548 |
| 15 yr | 6% | $3,207 | $197,198 | $577,198 |
| 20 yr ← | 6.25% | $2,778 | $286,607 | $666,607 |
| 25 yr | 6.4% | $2,542 | $382,628 | $762,628 |
| 30 yr | 6.5% | $2,402 | $484,669 | $864,669 |
| 40 yr | 7% | $2,361 | $753,491 | $1,133,491 |
Highlighted row = current page. Rates shown are typical for prime borrowers in May 2026.
The math nobody shows you.
A $380,000 loan at 6.25% over 20 years = $2,778/month and $286,795 total interest. The same loan at 6.5% over 30 years = $2,402/month but $484,605 total interest. The 20-year costs $376/month more but saves $197,810 — a meaningful middle-ground for borrowers who find 15-year unaffordable.