20 vs. 30-Year Mortgage

Determining which mortgage term is right for you can be a challenge. With a shorter 20 year mortgage, you will pay significantly less interest than a 30 year mortgage - but only if you can afford the higher monthly payment. Use this calculator for a comparison of a 20 vs. 30 year mortgage.

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Reliant Credit Union
PO Box 40, 10 Benton Place
Sodus, NY 14551

These calculators are made available to you as informational and educational tools for your independent use and are not intended to provide financial or investment advice. These calculators are not offers, representations or warranties and do not describe any particular products or services. Results depend on many factors, including the information you provide and we do not guarantee their applicability or accuracy in regards to your individual circumstances. All examples are hypothetical and are for illustrative purposes. You should not take any action on the basis of the information provided through these calculators. These calculators are not investment, legal, accounting or tax advice. Please consult with your financial, investment, tax and/or legal advisors for advice regarding your personal circumstances.