Save time and
money with a 20-year
refinance

Ready to get rid of your mortgage sooner? Shave years off your repayment schedule and cut down on overall interest costs with a 20-year refinance.

Possibly lock in a lower interest rate by replacing your current mortgage with a new loan that can provide better terms. Pick a 20-year to refinance and build equity faster.

Take time to explore all of our
different loan options.

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Conventional

Ready to buy a home and have at least a 620 credit score? You may qualify for a conventional loan with as low as a 3% down payment.

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Jumbo

If you live in a high-cost area or need a mortgage that exceeds conforming loan limits, a jumbo loan might be the right product for you.

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USDA

Certain buyers may benefit from a USDA loan depending upon their income or home's location. Another bonus: No down payment is needed.

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Adjustable-
Rate Mortgage

ARMs often start out with lower interest rates than fixed-rate loans. You may want to consider an ARM if you believe your income may grow as the interest rate and payment increases.

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FHA

If making a down payment is difficult or your credit has taken some hits, consider an FHA loan. These flexible government loans could be a budget-friendly option.

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VA

If making a down payment is difficult or your credit has taken some hits, consider an FHA loan. These flexible government loans could be a budget-friendly option.

Do current 20-year refinance rates have you considering your refinancing options? A 20-year mortgage refinance may be able to lower your current interest rate, help you pay off your loan sooner and save you money at the same time. Discover if refinancing with 20-year mortgage refinance rates is the optimal decision for you.  

What is a 20-Year Refinance? 

A 20-year refinance is the process of replacing a current mortgage loan with a new one to change the terms of the original loan to better suit the needs of the borrower. Updating the interest rate and loan length are among the most common reasons to refinance. Refinancing can help consolidate debt, reduce monthly mortgage payments and save the borrower money with lower 20-year refinance rates.  

Pros and Cons of 20-Year Refinance Rates and Terms 

Take a look at a few of the pros and cons of 20-year mortgage refinance rates to better help you make an informed decision regarding your refinancing options.  

Pros 

  • More affordable payment than 10-year and 15-year loans 
  • Loan paid off sooner than a 30-year loan 
  • Save more money in interest  

Cons 

  • Higher interest rates than shorter-term loans 
  • Pay more in interest compared to shorter-term loans 
  • Higher payment than a 30-year loan 

Reasons to Choose a 20-Year Refinance 

Choosing 20-year refinance rates and terms can allow you to pay off your loan sooner than a 30-year mortgage loan. A 20-year refinance mortgage also allows for a reduced monthly payment when compared to the 15- and 10-year refinance options.