Any term, not just 15 or 30 years
Choose Your Loan Term
Pick a custom loan term - like 27 years or 24 years - instead of being limited to the standard 15- or 30-year options.
Most people assume a mortgage comes in 15 or 30 years. Some programs let you pick a custom term instead, such as 27, 22 or 18 years. That lets you match your loan to your goals: a payment you’re comfortable with, a payoff date you choose, or a refinance that doesn’t start the clock over.
When a custom term makes sense
- Refinancing without starting over. If you have 26 years left on your current loan, you can refinance into a 26-year term and keep your original payoff date.
- Paying off by a set date, such as retirement or a child starting college
- Finding the right payment. A term between 15 and 30 years can land a payment between the two.
- Saving on interest. Every year you shorten the term generally lowers the total interest paid.
The tradeoff
A shorter term means a higher monthly payment but less interest over the life of the loan. A longer term lowers the payment but costs more interest overall. We’ll show you a few side-by-side options so you can see the payment and total interest for each. Our Term Comparison Calculator is a quick way to explore it yourself.
Which loans offer custom terms
Custom terms are most common on conventional fixed-rate loans, for both purchases and refinances. Availability depends on the lender and program. Because we work with multiple lenders, we can find one that offers the term you want.
Common questions
Is the rate different for a custom term?
Pricing usually follows the nearest standard term. Shorter terms often price a bit better.
Can I just pay extra on a 30-year loan instead?
Yes, and that keeps flexibility. A shorter term commits you to the higher payment, but may come with better pricing. We’ll help you decide which suits you.
Can I use a custom term with cash-out?
Often, yes, depending on the lender and loan type.
Want to see your payment at different terms? Call us at 303-931-3239, or get prequalified online.