Skip to main content
_FB_2018-Icons-finalized-cleaned-up_new_FB_2018-Icons-finalized-cleaned-up_newGroup 9
Back
Scroll to top

Where To Get 20 Year Mortgage Rates

When you’re ready to buy a house, it’s easy to get caught up in all of the excitement of shopping and forget about the financial part. Once you’ve found the perfect house, the first thing you may be wondering is where to get 20-year mortgage rates. First Bank can help you determine what type of mortgage works best for you, and help structure a loan that meets your individual needs.

What are 20-Year Mortgage Rates?

20-year mortgages are typically offered as fixed-rate mortgages, meaning your interest rate—and your total monthly payment of principal and interest—will stay the same for the entire term of the loan. A fixed-rate mortgage offers a predictable monthly payment, making it easier for you to follow your budget. With fixed-rate mortgages, you also have the option to take them out in 15 or 30-year terms.

While a 20-year mortgage helps you pay off your home faster and build equity quicker than longer-term fixed-rate mortgages, a 15-year mortgage will help you pay it off even faster, and pay less interest. However, 15-year mortgages have higher payments than other longer-term mortgages. Additionally, 30-year fixed-rate mortgages allow you to pay off your loan with lower monthly payments, but since the life of the loan is longer, you’ll pay more interest and build equity slower than you would with a shorter-term loan.

Visit Your Local First Bank

First Bank offers conventional fixed-rate mortgages in 15, 20, and 30-year terms, and we also offer adjustable-rate mortgages. To learn more about our loan options, or if you’re still wondering where to get 20-year mortgage rates, visit your local First Bank branch. Our loan experts will be happy to teach you more about mortgage loans and rates, or help you structure a loan* that meets your needs.


*Loans subject to credit approval.

———

Sources:

Investopedia: http://www.investopedia.com/terms/f/fixed-rate_mortgage.asp

Trending Topics

5 Ways to Get the Lowest Mortgage Rates

If you are looking for some of the lowest mortgage rates in North Carolina or South Carolina, First Bank might be able to help. Choosing a mortgage option can be one of the most confusing aspects of the home purchasing...

Savings Account Interest Rates in North Carolina

Whether you’re saving for retirement or starting a college fund, having the right savings account can help you reach your financial goals. With some of the most competitive savings account interest rates in North...

Hassle-Free Savings Account – High Point, NC

Saving your hard earned cash shouldn’t be a hassle. At First Bank in High Point, NC, we understand the importance of saving and we want to make sure our customers aren’t worried about their savings accounts....

Small Business Loan Requirements in Asheville, NC

Did you know that loan approval rates at small banks have increased in recent months? As you’re looking into small business loan requirements in Asheville, NC, consider a community bank like First Bank. Common...

Banks That Offer Personal Loans – North Carolina

Have you been looking for a bank that offers personal loans in North Carolina? Are you tired of sifting through endless search results only to be disappointed by your options? With plenty of North Carolina banks offering...

Get a Stress-Free Student Checking Account at First Bank in Wilmington, NC

If you are a college student in Wilmington, North Carolina, you’re probably more worried about studying than paying attention to your checking account. First Bank gets it — we offer a hassle-free student...

Savings Account – South Carolina

If you live in South Carolina and are looking for a savings account, your local First Bank can help. We offer savings accounts to meet a variety of needs, and we are dedicated to helping you find the best...

Local Bank in High Point, NC – First Bank

First Bank began as a local bank with a single branch located less than 50 miles from High Point, NC in 1935. Despite branching out to nearly 100 locations since, our local zeal remains firmly planted in our roots. For a...

What Are Commercial Loan Interest Rates?

Starting and running your own business takes hard work, time, and money. If you are an entrepreneur or a business leader in need of financial help, you are probably wondering about current commercial loan interest rates....

10-Step Program for First-Time Homebuyers

If you’re searching for a first-time homebuyer program, it’s important to find a process that is simple and clear. Purchasing a home for the first time is a significant event, so it’s also a process that...