20-Year Fixed

Home Loan

PUT DOWN ROOTS

If you’re not sure whether to get a 15-year mortgage or a 30-year mortgage, there’s a great option for you: the 20-year fixed home loan. Gain some of the benefits of each type of mortgage, all with an easy fixed rate. You can combine the flexibility of a 30-year fixed mortgage with the lower interest of a 15-year home loan.

HERE’S WHAT YOU GET

When you partner with Loan Cabin to take out a 20-year fixed home loan, you’ll get:

An honest, transparent, experienced lending company
A friendly mortgage banking professional to answer your questions
A simple, efficient mortgage process that saves you time and energy

See Rates

Is a 20-year fixed mortgage the best option for you?

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How long are you planning to stay in your home?

If you get a 20-year home loan, you’ll be mortgage-free fairly soon. You’ll build equity in your home that you can apply to a down payment on your next property.

Would you prefer consistent monthly payments?

Fixed loans, like the 20-year fixed mortgage, will always offer consistent monthly payments. You’ll pay principal and interest at the same time, so the full amount will be paid off after 20 years.

How much budget do you have planned for your house payment?

With a 20-year mortgage loan, you’ll have higher payments than you would with a traditional 30-year loan. Most likely, you’ll have to keep a tighter budget than you would if you’d opted for a longer mortgage repayment term.

Are you retiring anytime soon?

If you’re in your 40’s or 50’s and want to pay off a new home before retirement, a 20-year loan could enable you to pay it off in time. However, paying your home off means that you’ll no longer be able to take a mortgage interest tax deduction.