Save time and money with Pearl Hawaii’s 20 Year Mortgage
If you want to save on interest and pay off your loan quicker, a 20 year mortgage is the way to do it. With low rates, you can pay off your home earlier while saving you a ton of money. Some borrowers choose a 20 year over a 15 year so they can have affordable payments.
Benefits
- Lower interest rate – Interest rates on 20-year loans are usually lower than on 30-year loans
- Borrow up to $765,600.
- Affordable monthly payments
- The amortization follows more closely to a 15 year than a 30 year
- Pay off your house quicker
- Stability – You lock in the interest rate on your mortgage for the entire 20-year term since its a fixed rate. This gives you a degree of predictability you won’t have with an adjustable-rate mortgage (ARM)
- Less time before you own your home – Compared to the more common 30-year loan, you’ll shave 10 years off the time it takes to pay off your mortgage and own your home outright. Plus, you will save money on interest during the lifetime of the loan
- Lower total cost of borrowing – Between a lower interest rate and a shorter term, you’ll reduce the total interest you pay over the life of the loan.
Learn if a 20 Year Mortgage is right for you
If you still have questions, contact our mortgage loan team to find out how you can get started.
Twenty-year mortgages offer unique benefits that make it an attractive option for refinancing a home. Just like a year fixed-rate mortgage, a 20 year mortgage offers the security of a fixed rate, which means that your payments will be consistent during the lifetime of the loan. When you want professional help to determine whether a 20 year mortgage is the best home loan option for you, our mortgage specialists can help. As a leading mortgage company, we offer a broad range of mortgage programs and can help you compare mortgages and current home mortgage rates to find the right product for your unique financial situation and financial goals.
Programs Available
- 20 Year: First Mortgage
- 20 Year: Second Mortgage
Useful Links
Get started and apply.
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Mortgage Loans
Fixed Rate Term Rate Points APR* AS LOW AS Payment Examples Based on an A-Tier rate of $100,000 (Owner Occupied & Investment Properties) 7 Year Owner Occupied 3.000% 0.00 3.111% Monthly principal and interest is 84 payments of $1,321.31. Total interest payments is $10,989.69; total of all payments is $110,989.69. 7 Year Investment 3.000% 0.00 3.111% Monthly principal and interest is 84 payments of $1,321.31. Total interest payments is $10,989.69; total of all payments is $110,989.69. 12 Year Investment 4.500% 0.00 4.569% Monthly principal and interest is 144 payments of $899.99. Total interest payments is $29,598.03; total of all payments is $129,598.03. 15 Year First Mortgage Owner Occupied 2.250% 1.00 2.446% Monthly principal and interest is 180 payments of $655.08. Total interest payments is $17,913.64; total of all payments is $117,913.64. 15 Year First Mortgage Owner Occupied 2.500% 0.00 2.554% Monthly principal and interest is 180 payments of $666.78. Total interest payments is $20,020.33; total of all payments is $120,020.33. 15 Year Second Mortgage Owner Occupied 2.625% 1.00 2.823% Monthly principal and interest is 180 payments of $672.68. Total interest payments is $21,082.29; total of all payments is $121,082.29. 15 Year Second Mortgage Owner Occupied 2.875% 0.00 2.929% Monthly principal and interest is 180 payments of $684.58. Total interest payments is $23,223.22; total of all payments is $123,223.22. 20 Year First Mortgage Owner Occupied 2.500% 1.00 2.652% Monthly principal and interest is 240 payments of $529.90. Total interest payments is $27,174.73; total of all payments is $127,174.73. 20 Year First Mortgage Owner Occupied 2.750% 0.00 2.792% Monthly principal and interest is 240 payments of $542.16. Total interest payments is $30,117.87; total of all payments is $130,117.87. 20 Year Second Mortgage Owner Occupied 2.875% 1.00 3.029% Monthly principal and interest is 240 payments of $548.36. Total interest payments is $31,604.07; total of all payments is $131,604.07. 20 Year Second Mortgage Owner Occupied 3.125% 0.00 3.167% Monthly principal and interest is 240 payments of $560.87. Total interest payments is $34,607.62; total of all payments is $134,607.62. 30 Year Mortgage- Owner Occupied, First Liens 2.875% 1.00 2.984% Monthly principal and interest is 360 payments of $414.93. Total interest payments is $49,374.15; total of all payments is $149,374.15. 30 Year Mortgage- Owner Occupied, First Liens 3.125% 0.00 3.156% Monthly principal and interest is 360 payments of $428.42. Total interest payments is $54,228.89; total of all payments is $154,228.89. *Annual Percentage Rate (APR). Rates are subject to change without prior notice. The loan rates advertised are “A” Tier loan rates in our Multi-Tiered Loan Rate Program. Other rates and terms are available. Other terms, conditions, and restrictions may apply. Visit any of our branches for more information. May not be used for a business loan. The borrower must be 18 years of age or older. Promotion is subject to change or cancellation without prior notice. Only improved residential properties on Oahu accepted as collateral. PHFCU must be listed as a loss payee on the Home Insurance policy. Payment example does not include possible fees, insurance, or closing costs that may occur and will range dependent on your situation.
There are no pre-payment penalties or annual fees. Fees that may be incurred: application fee, title insurance fee, document preparation fee, SRA\appraisal fee, tax verification fee, trust review fee, recording fees, or flood verification fee. Closing cost fees incurred will be dependent on the amount borrowed and will vary based on the member’s situation. Average Closing Cost: $800.00-$1500.00 and may vary dependent on the personal financial situation. You must maintain broad form hazard insurance on the property, listing PHFCU as a loss payee.
Maximum loan amount: $765,600.
NMLS 472169. a href="https://pearlhawaii.com/wp-content/uploads/2021/04/HOME-DISCLOSURE.pdf" style="">HELOC EARLY DISCLOSURE.
For additional rates, visit our rates page.
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