--- title: "Shave Years off Your Mortgage: Benefits of a 20-Year Mortgage Term" description: Move from decades-long to shorter term mortgages for financial freedom. Learn the benefits of a 20-year-mortgage and reduce your interest payments. image: https://pdxdirectrealty.com/hubfs/Imported_Blog_Media/image_108-3.png --- [Skip to content](https://pdxdirectrealty.com/articles/20-year-mortgage-shorting-your-home-loan-term#main-content) [![PDX Direct Realty](https://pdxdirectrealty.com/hs-fs/hubfs/Black%20logo%20-%20no%20background-2.png?width=150&height=147&name=Black%20logo%20-%20no%20background-2.png)](https://pdxdirectrealty.com/) - Services Show submenu for Services - [Listing Services](https://pdxdirectrealty.com/listing-services) - [Buyer Services](https://pdxdirectrealty.com/buyer-services) - [Additional Services](https://pdxdirectrealty.com/additional-services) - [About Us](https://pdxdirectrealty.com/about-us) - [Customer Portal](https://pdxdirectrealty.com/customer-portal) Open main navigation Close main navigation - Services Show submenu for Services - [Listing Services](https://pdxdirectrealty.com/listing-services) - [Buyer Services](https://pdxdirectrealty.com/buyer-services) - [Additional Services](https://pdxdirectrealty.com/additional-services) - [About Us](https://pdxdirectrealty.com/about-us) - [Customer Portal](https://pdxdirectrealty.com/customer-portal) - [Contact Us](https://pdxdirectrealty.com/contact-us) [Contact Us](https://pdxdirectrealty.com/contact-us) [All posts](https://pdxdirectrealty.com/articles/all) December 22, 2023 # 20-Year Mortgage: Shorting Your Home Loan Term By  PDX Direct  ·  1 minute read Move from decades-long to shorter term mortgages for financial freedom. Learn the benefits of a 20-year-mortgage and reduce your interest payments. ## What Is a 20-Year Mortgage? A 20-year mortgage is a type of loan that allows someone to purchase a home with a fixed interest rate over a 20-year period. Unlike the more common 30-year mortgage, a 20-year mortgage can help you pay off your home loan faster while also potentially saving you money in interest. ## Benefits of a 20-Year Mortgage The primary benefit of a 20-year mortgage is that borrowers can save money on their overall interest payments. Since the loan term is shorter than a traditional 30-year mortgage, the interest payments are spread out over a shorter period of time. By shortening the loan term, borrowers can pay off their home loan faster while also potentially saving thousands of dollars in interest. In addition, the payment terms for a 20-year mortgage are typically lower than those of a 30-year mortgage. This means that you may qualify for a lower mortgage rate which can save you money in the long run. ## Disadvantages of a 20-Year Mortgage The main disadvantage of a 20-year mortgage is that borrowers may have difficulty qualifying for a loan as compared to a 30-year mortgage. This is because the lender takes on more risk when lending for a shorter loan term. As a result, lenders may require higher credit score qualifications, higher down payment requirements, and other stricter terms. In addition, borrowers may struggle to fit the larger monthly payments into their budget. A longer loan term allows borrowers more time to pay of the loan, thus reducing their monthly payments. However, a 20-year loan term requires borrowers to make larger payments each month in order to pay off the loan quicker. ## Conclusion A 20-year mortgage can be a great choice for those looking to save money on interest and pay off their home loan in a shorter period of time. It's important to consider if you can qualify for the loan and still fit the larger monthly payments into your budget. Finally, make sure to shop around and compare rates to find the best deal. ## More Articles to Consider Reading [Average Mortgage Payment: Understanding the Norms](https://pdxdirectrealty.com/articles/average-mortgage-payment-understanding-the-norms) [Hard Money Loans: An Overview](https://pdxdirectrealty.com/articles/hard-money-loans-an-overview) [15-Year vs. 30-Year Mortgage: Making the Right Choice for You](https://pdxdirectrealty.com/articles/15-year-vs-30-year-mortgage-making-the-right-choice-for-you) [Should I Refinance My Mortgage? A Decision-Making Guide](https://pdxdirectrealty.com/articles/should-i-refinance-my-mortgage-a-decision-making-guide) [Cash-Out Refinance: Tapping into Your Home's Equity](https://pdxdirectrealty.com/articles/cash-out-refinance-tapping-into-your-home-s-equity) [Refinance to a 15-Year Mortgage: Pros and Cons](https://pdxdirectrealty.com/articles/refinance-to-a-15-year-mortgage-pros-and-cons) Share: [facebook-f icon](http://www.facebook.com/share.php?u=https://pdxdirectrealty.com/articles/20-year-mortgage-shorting-your-home-loan-term) [linkedin-in icon](http://www.linkedin.com/shareArticle?mini=true&url=https://pdxdirectrealty.com/articles/20-year-mortgage-shorting-your-home-loan-term) [twitter icon](https://twitter.com/intent/tweet?url=https://pdxdirectrealty.com/articles/20-year-mortgage-shorting-your-home-loan-term) [pinterest-p icon](http://pinterest.com/pin/create/link/?url=https://pdxdirectrealty.com/articles/20-year-mortgage-shorting-your-home-loan-term) [envelope icon](mailto:?body=https://pdxdirectrealty.com/articles/20-year-mortgage-shorting-your-home-loan-term) [![PDX Direct Realty](https://pdxdirectrealty.com/hs-fs/hubfs/Color%20logo%20-%20no%20background.png?width=100&height=98&name=Color%20logo%20-%20no%20background.png "PDX Direct Realty")](http://PDX%20Direct%20Realty) [List@PDXDirectRealty.com](mailto:List@PDXDirectRealty.com) (503) 847-2199 M-F 8am-5pm PST 3225 SW 87th Ave. #25653 Portland, OR 97225 Our Services - [Property Listing Services](https://pdxdirectrealty.com/listing-services) - [Home Buyer Services](https://pdxdirectrealty.com/buyer-services) - [Business Listing Services](https://pdxdirectrealty.com/contact-us) - [Additional Services](https://pdxdirectrealty.com/additional-services) Company Information - [About Us](https://pdxdirectrealty.com/about-us) - [Contact Us](https://pdxdirectrealty.com/contact-us) - [Terms of Service](https://pdxdirectrealty.com/terms-of-service) - [Privacy Policy](https://legal.hubspot.com/privacy-policy) - [Real Estate Articles](https://pdxdirectrealty.com/articles) **Customer Portal** - [Submit Listing Data](https://pdxdirectrealty.com/submission-options) - [Submit Photos](https://pdxdirectrealty.com/photo-submission) - [Submit Changes](https://pdxdirectrealty.com/submit-changes-form) - [Submit Documents](https://pdxdirectrealty.com/document-submission-form) Copyright © 2026, PDX Direct Realty - All Rights Reserved - Licensed in the State of Oregon ```json { "@context" : "https://schema.org", "@type" : "BlogPosting", "author" : { "@type" : "Person", "name" : "PDX Direct", "url" : "https://pdxdirectrealty.com/articles/author/pdx-direct" }, "dateModified" : "2023-12-22T19:42:08.450Z", "datePublished" : "2023-04-23T07:00:00.000Z", "headline" : "Shave Years off Your Mortgage: Benefits of a 20-Year Mortgage Term", "image" : [ "https://pdxdirectrealty.com/hubfs/Imported_Blog_Media/image_108-3.png" ], "mainEntityOfPage" : { "@id" : "https://pdxdirectrealty.com/articles/20-year-mortgage-shorting-your-home-loan-term", "@type" : "WebPage" }, "publisher" : { "@type" : "Organization", "logo" : { "@type" : "ImageObject", "url" : "https://pdxdirectrealty.com/hubfs/Color%20logo%20-%20no%20background.png" }, "name" : "PDX Direct Realty" } } ``` ```json { "@context" : "http://schema.org", "@type" : "Article", "author" : { "@type" : "Person", "name" : [ "PDX Direct" ] }, "datePublished" : "2023-04-23T07:00:00+0000", "description" : "Move from decades-long to shorter term mortgages for financial freedom. 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