Loanweek

20-year vs 30-year mortgage

$329.35/month difference in monthly payment

$161,191 difference in total interest

20-year: $2,331.30 a month. 30-year: $2,001.96 a month.

Source: Freddie Mac PMMS averages for the week of September 24, 2026: 30-year 7.03%, 15-year 6.42%. 20-year loans are priced at the 30-year average. An average, not an offer.

Side by side

20-year30-year
Amount borrowed$300,000$300,000
Rate7.03%7.03%
Monthly payment$2,331.30$2,001.96
Paid off in20 years30 years
Total interest$259,513$420,704
Balance remaining: 20-year vs 30-yearLoan balance at the end of each year for both options.20-year30-year$0$100k$200k$300kStartYear 15Year 3020-year, Start: $300k20-year, Year 1: $292.9k20-year, Year 2: $285.3k20-year, Year 3: $277.1k20-year, Year 4: $268.3k20-year, Year 5: $258.9k20-year, Year 6: $248.8k20-year, Year 7: $238k20-year, Year 8: $226.3k20-year, Year 9: $213.9k20-year, Year 10: $200.5k20-year, Year 11: $186.2k20-year, Year 12: $170.8k20-year, Year 13: $154.3k20-year, Year 14: $136.6k20-year, Year 15: $117.7k20-year, Year 16: $97.3k20-year, Year 17: $75.5k20-year, Year 18: $52.1k20-year, Year 19: $26.9k20-year, Year 20: $020-year, Year 21: $020-year, Year 22: $020-year, Year 23: $020-year, Year 24: $020-year, Year 25: $020-year, Year 26: $020-year, Year 27: $020-year, Year 28: $020-year, Year 29: $020-year, Year 30: $030-year, Start: $300k30-year, Year 1: $297k30-year, Year 2: $293.7k30-year, Year 3: $290.2k30-year, Year 4: $286.5k30-year, Year 5: $282.5k30-year, Year 6: $278.2k30-year, Year 7: $273.6k30-year, Year 8: $268.6k30-year, Year 9: $263.3k30-year, Year 10: $257.6k30-year, Year 11: $251.5k30-year, Year 12: $245k30-year, Year 13: $237.9k30-year, Year 14: $230.4k30-year, Year 15: $222.3k30-year, Year 16: $213.6k30-year, Year 17: $204.3k30-year, Year 18: $194.4k30-year, Year 19: $183.7k30-year, Year 20: $172.2k30-year, Year 21: $159.9k30-year, Year 22: $146.7k30-year, Year 23: $132.5k30-year, Year 24: $117.3k30-year, Year 25: $101k30-year, Year 26: $83.6k30-year, Year 27: $64.8k30-year, Year 28: $44.7k30-year, Year 29: $23.1k30-year, Year 30: $0

Questions

Which has the lower monthly payment?

30-year, by $329.35 a month ($2,331.30 vs $2,001.96).

Which costs less overall?

20-year saves $161,191 in interest ($259,513 vs $420,704).

What rates are these figures based on?

Freddie Mac PMMS averages for the week of September 24, 2026: 30-year 7.03%, 15-year 6.42%. 20-year loans are priced at the 30-year average.

Can I compare a different amount?

Yes: change the amount above and press Compare. The page recalculates with the same rates.

Sources

Numbers on this page last changed September 26, 2026. How they are calculated: methodology.