30-yr fixed 6.43% ▾ 0.06 wk
15-yr fixed 5.79% ▾ 0.04 wk
HELOC avg 7.90% — no change
Auto 60-mo new 6.82% ▴ +0.03 mo
Personal 24-mo 11.57% ▾ 0.12 qtr
Credit card APR 21.52% ▴ +0.09 qtr
as of Jul 2, 2026 · Federal Reserve / Freddie Mac via FRED (St. Louis Fed)
Mortgage Calculators

20 vs. 30 Year Mortgage

Compare a 20-year and a 30-year mortgage to weigh a higher payment against long-term interest savings.

Inputs
$
%
%

Estimates only. Change any value to recalculate instantly.

Interest saved with the 20-year $161,383 for $285.56 more per month
20-year payment $2,201.54
20-year total interest $228,369
30-year payment $1,915.98
30-year total interest $389,752
Total interest compared
Total interest compared 20-year interest: $228k30-year interest: $390k
  • 20-year interest $228k
  • 30-year interest $390k
Loan balance 20-year30-year
Loan balance: 20-year vs 30-year $589k$442k$294k$147k$0 Yr 1Yr 6Yr 11Yr 16Yr 21Yr 26

The 20-year costs $286 more each month but saves $161,383 in interest and frees you 10 years sooner.

Balance & cumulative interest by yearView table
Year20-yr balance30-yr balance20-yr interest30-yr interest
1$292,261$296,710$18,679$19,702
2$284,019$293,196$36,856$39,179
3$275,244$289,443$54,499$58,418
4$265,899$285,435$71,572$77,402
5$255,948$281,154$88,040$96,112
6$245,352$276,582$103,862$114,532
7$234,068$271,698$118,997$132,640
8$222,053$266,483$133,401$150,417
9$209,259$260,912$147,025$167,838
10$195,635$254,963$159,819$184,880
11$181,127$248,609$171,730$201,518
12$165,679$241,823$182,700$217,723
13$149,228$234,575$192,668$233,467
14$131,711$226,833$201,569$248,717
15$113,058$218,566$209,335$263,441
16$93,195$209,735$215,890$277,603
17$72,044$200,304$221,158$291,163
18$49,522$190,231$225,054$304,082
19$25,539$179,473$227,489$316,316
20$0$167,983$228,369$327,818
21$0$155,712$228,369$338,538
22$0$142,605$228,369$348,423
23$0$128,607$228,369$357,417
24$0$113,657$228,369$365,458
25$0$97,689$228,369$372,482
26$0$80,635$228,369$378,420
27$0$62,421$228,369$383,197
28$0$42,967$228,369$386,735
29$0$22,190$228,369$388,950
30$0$0$228,369$389,752

A worked example

Running this tool on current national benchmarks (Federal Reserve / Freddie Mac via FRED (St. Louis Fed)) — swap in your own numbers to see how the result moves.

Inputs
Loan amount
$300,000
20-year rate
6.30%
30-year rate
6.60%
Interest saved with the 20-year
$161,383

for $285.56 more per month

  • 20-year payment$2,201.54
  • 20-year total interest$228,369
  • 30-year payment$1,915.98

How the interest saved with the 20-year changes with loan amount

Holding the other inputs at the example above, here is how the result moves as loan amount changes.

Loan amountInterest saved with the 20-year20-year payment
$150,000$80,691$1,100.77
$225,000$121,037$1,651.15
$300,000$161,383$2,201.54
$450,000$242,074$3,302.30
$600,000$322,766$4,403.07
30-year fixed mortgage rate, 2019–2026
8.0%6.0%4.0%2.0% 2019202120232025 6.43%

Source: Freddie Mac PMMS via FRED. Annual averages; latest weekly reading shown.

Common questions

Is this calculator free, and do I need to sign up?

Yes and no — it is completely free and asks for no account or personal details. Every calculation happens in your browser, so nothing you type is stored or sent to us.

How accurate are the results?

The math is exact for the inputs you give it, but the defaults are national benchmarks — your real rate, fees, taxes, and insurance will differ. Treat the result as a close estimate to refine with a real quote.

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