Get prequalified for a basic estimate of what you may be able to borrow.
These rates and APRs are current as of $date and may change at any time. They assume you have a FICO® Score of 740+ and a down payment of at least 25%, that the loan is for a single-family home as your primary residence and that you will purchase up to one mortgage point.
Mortgage points, or discount points, are a form of prepaid interest you can choose to pay up front in exchange for a lower interest rate and monthly payment. One mortgage point is equal to about 1% of your total loan amount, so on a $250,000 loan, one point would cost you about $2,500. Connect with a mortgage loan officer to learn more about mortgage points.
Get an estimate of your monthly mortgage payment with our mortgage calculator.
A 20-year fixed-rate mortgage is a home loan that has a repayment period of 20 years. It has an interest rate that does not change throughout the life of the loan.
The main advantages of a 20-year fixed mortgage compared to other mortgage options are:
A fixed-rate mortgage gives you predictability regardless of term. A 20-year fixed mortgage may be a good option for you if you find the monthly payment on a 30-year mortgage low but the monthly payment on a 15-year mortgage too high. Visit our fixed-rate loan calculator to estimate your 20-year fixed mortgage monthly payment. U.S. Bank offers a variety of loan terms and options. Our mortgage loan officers are dedicated to helping you choose the option that’s best for you.