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Researching 20 Year Mortgage Rates

Home buyers who are looking to strike a balance between the affordable payments of a 30 year mortgage and the quicker pay off of 15 year home loan may be the perfect candidates for a 20 year mortgage from American Bank.

With a 20 year mortgage, the home loan is stretched out over a period of 20 years (240 months). With a 30 year mortgage, the loan is stretched over 30 years (360 months). With a 20 year home loan, you would make 120 fewer monthly mortgage payments than you would with a typical 30 year mortgage.

What if owning the home outright isn't a concern for me? Does a 20 year mortgage still make sense?

Even if you think you might refinance in the future, a 20 year mortgage can help you build equity faster and pay down the loan sooner, which may help your chances for refinancing to a lower rate later on. Likewise, if you decide to sell, you may have an easier time making a profit on the sale of your home, since you will have likely paid down a lot of your principal balance. 

Other Reasons to Consider a 20 Year Home Loan from American Bank:

  • Ability to pay off the loan in 240 months versus the 360 months needed for a 30 year home loan.
  • Typically provides a lower monthly payment than those associated with a 10 or 15 year mortgage.
  • American Bank offers some of the most competitive 20 year mortgage rates in the marketplace.
  • Can be a good fit for someone who does not want a 30 year mortgage but does not feel comfortable with the higher monthly payments required with a 15 yr mortgage.
  • Most of American Bank's 20 year home loans do not have any pre-payment penalties (call for details).

American Bank is an FDIC insured, federally chartered bank that offers competitive 20 year mortgage rates throughout the United States. Call today to learn more about current mortgage rates and programs: 877-215-2290. 

Family playing in front of their new house. 20 yr mortgage information.


Researching current 20 yr mortgage rates is easy with the home financing professionals at American Bank. Simply call them toll-free 877-215-2290 or complete the Rate Quote Form on this page. You may also start the prequalification process online in just a few easy steps.

Nice yellow home.


Since 1983 American Bank has been providing mortgage banking assistance to home buyers and home owners throughout the United States. They currently offer mortgage refinance and home purchase loans throughout the country and their Mortgage Bankers are some of the most highly trained and skilled professionals in the marketplace. Call today for information on the bank's products and services.

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