20-Year Fixed Mortgage Calculator
Mortgage Calculator with Amortization Schedule
Calculate your total monthly mortgage payment including principal, interest, taxes, insurance, and PMI with full amortization schedule export.
Shortens loan term & saves interest
Monthly Payment Breakdown
Principal & Interest: $2,329.65 • Taxes: $400 • Insurance: $100
| Period | Payment | Principal | Interest | Total Interest | Balance |
|---|---|---|---|---|---|
| Year 1 | $27,955.8 | $8,350.43 | $19,605.37 | $19,605.37 | $311,649.57 |
| Year 2 | $27,955.8 | $8,883.14 | $19,072.66 | $38,678.03 | $302,766.43 |
| Year 3 | $27,955.8 | $9,449.82 | $18,505.98 | $57,184.01 | $293,316.61 |
| Year 4 | $27,955.8 | $10,052.66 | $17,903.14 | $75,087.15 | $283,263.95 |
| Year 5 | $27,955.8 | $10,693.92 | $17,261.88 | $92,349.03 | $272,570.03 |
| Year 6 | $27,955.8 | $11,376.13 | $16,579.67 | $108,928.7 | $261,193.9 |
| Year 7 | $27,955.8 | $12,101.82 | $15,853.98 | $124,782.68 | $249,092.08 |
| Year 8 | $27,955.8 | $12,873.84 | $15,081.96 | $139,864.64 | $236,218.24 |
| Year 9 | $27,955.8 | $13,695.09 | $14,260.71 | $154,125.35 | $222,523.15 |
| Year 10 | $27,955.8 | $14,568.74 | $13,387.06 | $167,512.41 | $207,954.41 |
| Year 11 | $27,955.8 | $15,498.12 | $12,457.68 | $179,970.09 | $192,456.29 |
| Year 12 | $27,955.8 | $16,486.77 | $11,469.03 | $191,439.12 | $175,969.52 |
| Year 13 | $27,955.8 | $17,538.51 | $10,417.29 | $201,856.41 | $158,431.01 |
| Year 14 | $27,955.8 | $18,657.33 | $9,298.47 | $211,154.88 | $139,773.68 |
| Year 15 | $27,955.8 | $19,847.54 | $8,108.26 | $219,263.14 | $119,926.14 |
| Year 16 | $27,955.8 | $21,113.66 | $6,842.14 | $226,105.28 | $98,812.48 |
| Year 17 | $27,955.8 | $22,460.55 | $5,495.25 | $231,600.53 | $76,351.93 |
| Year 18 | $27,955.8 | $23,893.38 | $4,062.42 | $235,662.95 | $52,458.55 |
| Year 19 | $27,955.8 | $25,417.58 | $2,538.22 | $238,201.17 | $27,040.97 |
| Year 20 | $27,955.8 | $27,039.05 | $916.75 | $239,117.92 | $1.92 |
| Year 21 | $1.93 | $1.92 | $0.01 | $239,117.93 | $0 |
Compare Top Mortgage & Refinance Rates
Estimated monthly principal & interest based on a $320,000 mortgage.
| Loan Product | Interest Rate | APR | Est. Monthly P&I | Action |
|---|---|---|---|---|
30-Year Fixed | 6.68% | 6.75% | $2,061/mo | Check Rates |
15-Year Fixed | 5.92% | 6.04% | $2,687/mo | Check Rates |
5/1 Adj. Rate (ARM) | 6.18% | 6.55% | $1,956/mo | Check Rates |
FHA / VA 30-Year | 6.15% | 6.82% | $1,950/mo | Check Rates |
Shop Multiple Lenders
Borrowers who compare 3+ quotes save an average of $84,000 over a 30-year term.
Points vs Zero-Cost
Paying discount points lowers your ongoing interest rate if you plan to stay 5+ years.
PMI Removal Rules
Request private mortgage insurance cancellation as soon as your loan-to-value reaches 80%.
Advertising & Affiliate Disclosure: ConvertSheet is an independent educational calculation service and may receive compensation from partner financial institutions when users click to compare rates. Zero client data or calculated figures are ever shared.
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About 20-Year Fixed Mortgage Calculator
A 20-year fixed mortgage offers a balanced sweet spot between 15-year and 30-year loans. You build equity rapidly and retire the loan 10 years earlier with a moderate monthly payment increase.
Related Mortgage Calculator & Amortization Schedule Calculations
Frequently Asked Questions: 20-Year Fixed Mortgage Calculator
Clear mathematical answers to key questions, calculations, and loan parameters.
Why choose a 20-year mortgage over a 30-year?
A 20-year mortgage cuts a full decade off your debt obligation and saves over 40% in total interest while keeping monthly payments manageable compared to a compressed 15-year term.
What is the monthly payment on a 20-year $320,000 loan?
At a 6.2% interest rate, the monthly principal and interest payment is $2,330. Adding $400/mo taxes and $100/mo insurance brings the total monthly payment to ~$2,830.