Current 20-year mortgage rates
As a lender, Zillow Home Loans is here to help you understand 20-year rates to determine whether a 20-year mortgage is the right loan option for you. Get pre-approved to see if you qualify for a 20-year mortgage and get a personalized rate.
What is a 20-year fixed-rate mortgage?
A 20-year fixed-rate mortgage is a home loan where your interest rate stays the same for the entire 20-year duration of the loan. This loan also typically has a lower interest rate than a conventional 30-year loan, but with higher monthly payments due to the shorter term.
Today's 20-year mortgage rate options
Here are some of the 20-Year Fixed mortgage rate options available from Zillow Home Loans. Our 20-Year Fixed rates are updated daily to reflect the most current offers.
As of October 10, 2025, current 20-Year Fixed mortgage rates are 6.000%.
Interest rates change frequently — explore all of our current rates and mortgage options to find your fit.
Interest rates change frequently — explore all of our current rates and mortgage options to find your fit.
Interest rates change frequently — explore all of our current rates and mortgage options to find your fit.
See more loan optionsInterest rates change frequently — explore all of our current rates and mortgage options to find your fit.
Top reasons a 20-year mortgage may be right for you:
Optimal balance
This mortgage achieves a balance between managing your monthly payments and saving on your interest rate.
Build equity faster
By paying off the loan faster than you would a conventional 30-year mortgage, you’ll build equity faster.
Reduced loan term
Although payments may be higher than a 30-year loan, you’ll be mortgage-free a decade sooner.
Predictable costs
Fixed principal and interest costs result in more stable monthly payments than an adjustable-rate loan.
Why a 20-year fixed-rate mortgage may be right for you:
Optimal balance
This mortgage achieves a balance between managing your monthly payments and saving on your interest rate.
Build equity faster
By paying off the loan faster than you would a conventional 30-year mortgage, you’ll build equity faster.
Reduced loan term
Although payments may be higher than a 30-year loan, you’ll be mortgage-free a decade sooner.
Predictable costs
Fixed principal and interest costs result in more stable monthly payments than an adjustable-rate loan.
Learn more about 20-year mortgages
Learn more about 20-year mortgages
Frequently asked questions
- How does a 20-year fixed-rate mortgage compare to a 15-year fixed-rate mortgage?
With a 20-year fixed mortgage, you will have lower monthly payments than a 15-year fixed-rate mortgage, but will pay a higher amount in total interest over the life of the loan. Both options allow you to build equity and pay off your mortgage faster than with a 30-year fixed-rate loan. The interest rate is usually lower with shorter loan terms, costing you less over the life of the loan.
- How does a 20-year fixed-rate mortgage compare to a 30-year fixed-rate mortgage?
With a 20-year fixed-rate mortgage, you can build equity and pay off your mortgage faster than with a 30-year fixed-rate loan. The interest rate is usually lower, costing you less over the life of the loan. If you’re considering a 20-year fixed over a 30-year fixed mortgage, keep in mind that the 20-year mortgage has a higher monthly payment due to being paid back over less time.
Advantages Disadvantages Pay off home faster Higher monthly payments Pay less interest over time Qualify for a lower mortgage amount Build equity faster Might sacrifice monthly savings or retirement - What factors influence the interest rate I'll receive on a 20-year fixed-rate mortgage?
On a 20-year fixed mortgage, the following factors may influence the interest rate you receive:
- Your credit history
- The size of your down payment
- The value of the home you plan to buy
Remember, 20-year mortgage rates are also influenced by broader market trends like inflation and job growth.
Zillow Home Loans’ loan officers are happy to help talk you through these factors and how they influence the 20-year rate you may receive.
- Can I pay off my 20-year mortgage early?
Yes. Zillow Home Loans does not charge prepayment penalties, so you can pay off your 20-year mortgage early and save on interest.
- Will my monthly mortgage payment always be the same with a 20-year mortgage?
Your principal and interest will remain the same over the span of your 20-year mortgage term, making it much easier to predict your monthly payments. Property taxes and insurance may be included in your mortgage payment if paid through an escrow account. Since these costs can change over time, your mortgage payment may also fluctuate but usually not by much.
- Should I refinance to a 20-year mortgage?
We offer a range of 20-year mortgage options to fit your situation, and down payments as low as 3%, or even 0% for 20-year VA loans, to help you buy a home sooner. With an A+ BBB rating and thousands of 5-star reviews, we are a trusted mortgage lender and would love to help you explore your options for a 20-year mortgage.
Unlock your personalized rate
The interest rate you’ll receive is unique to your financial situation. Our experts will work to give you our best custom rate and guide you every step of the way home.
