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If you're unsure what type of mortgage you want, this calculator will provide a
monthly payment comparison for fixed and adjustable rate mortgages. Keep in mind
that if the rate isn't capped on your ARM option you could end up paying
significantly more. You can get estimates of how high your ARM monthly payment
could go by changing the "interest rate cap" number below.
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ARM vs. Fixed Rate Mortgage Calculator
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Loan Information
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Mortgage loan amount:
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Mortgage loan term:
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Expected adjustment (%):
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Fixed Rate Mortgage
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Fixed interest rate (%):
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Fully Amortized Adjustable Rate Mortgage
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Beginning interest rate (%):
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Number of months before first rate adjustment:
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Interest rate cap (%):
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Comparison Results
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Fixed
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ARM
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Beginning monthly principal and interest payment:
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Total monthly payments:
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Total interest:
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Maximum monthly payment:
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