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Adjustable Rate Mortgage Calculator

Adjustable rate mortgages can provide attractive interest rates, but your payment is not fixed. This calculator helps you to determine what your adjustable mortgage payments may be.

Adjustable Rate Mortgage Calculator
How much will adjustable rate mortgage payments be?

Your starting monthly payment is MONTHLY_PI.

Your adjustable rate loan of LOAN_AMOUNT for TERM years has a starting payment of MONTHLY_PI. Your interest rate remains fixed at INTEREST_RATE for ADJUSTABLE_RATE_FIXED months, after that time your interest rate is expected to change by ADJUSTABLE_RATE_INCR every ADJUSTABLE_RATE_FEQ months. Your highest monthly payment, in this scenario, would be ADJUSTABLE_RATE_HIGHEST.

ADJUSTABLE_PAYMENT_AMTS

**GRAPH**

Mortgage Summary

Mortgage Information
Loan amountLOAN_AMOUNT
TermTERM years
Starting Interest rateINTEREST_RATE
First monthly paymentMONTHLY_PI
Interest rate cap ADJUSTABLE_RATE_CAP
Expected adjustmentADJUSTABLE_RATE_INCR
Rate remains fixed forADJUSTABLE_RATE_FIXED months
Periods between adjustmentsADJUSTABLE_RATE_FEQ months
Total paymentsTOTAL_OF_PAYMENTS
Total interestINTEREST_PAID

Payment schedule
**REPEATING GROUP**

Information and interactive calculators are made available to you as self-help tools for your independent use and are not intended to provide investment advice. We cannot and do not guarantee their applicability or accuracy in regards to your individual circumstances. All examples are hypothetical and are for illustrative purposes. We encourage you to seek personalized advice from qualified professionals regarding all personal finance issues.



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Definitions

Adjustable rate mortgage (ARM)

This calculator shows a fully amortizing ARM which is the most common type of ARM. The monthly payment is calculated to payoff the entire mortgage balance at the end of the term. The term is typically 30 years. After any fixed interest rate period has passed, the interest rate and payment adjusts at the frequency specified. A Fully Amortizing ARM will also have a maximum rate that it will not exceed. Below is a list of the most common types of Fully Amortizing ARMs.

Common Adjustable Rate Mortgages
ARM TypeMonths Fixed
10/1 ARMFixed for 120 months, adjusts annually for the remaining term of the loan.
7/1 ARMFixed for 84 months, adjusts annually for the remaining term of the loan.
5/1 ARMFixed for 60 months, adjusts annually for the remaining term of the loan.
3/1 ARMFixed for 36 months, adjusts annually for the remaining term of the loan.

Mortgage amount

Original or expected balance for your mortgage.

Starting interest rate

Initial annual interest rate for this mortgage.

Term in years

The number of years over which you will repay this loan. The most common mortgage terms are 15 years and 30 years.

Interest rate cap

This is the highest interest rate allowed by your mortgage. Your actual interest rate will not be adjusted above this rate.

Months before first adjustment

This is the number of months that the interest rate is fixed. After this period, the interest rate will be subject to rate adjustments. If you enter zero in this field, we assume that the rate will begin making adjustments after initial period of time between adjustments has passed. If any number other than zero is entered, the first adjustment will take place at that time, and adjustments will happen at the frequency entered in the “months between adjustments” field.

Expected adjustment

The amount you believe that your mortgage’s interest rate will change. This amount will be added to or subtracted from your interest rate.

Months between adjustments

The number of payment periods between potential adjustments to your interest rate. The most common is 12 months, which means your payment could change at most once per year.

Starting monthly payment

Monthly principal and interest payment (PI) based on your beginning balance and starting interest rate.

Total payments

Total of all monthly payments over the full term of the mortgage. This total payment amount assumes that there are no prepayments of principal.

Total interest

Total of all interest paid over the full term of the mortgage. This total interest amount assumes that there are no prepayments of principal.


Information and interactive calculators are made available to you as self-help tools for your independent use and are not intended to provide investment advice. We cannot and do not guarantee their applicability or accuracy in regards to your individual circumstances. All examples are hypothetical and are for illustrative purposes. We encourage you to seek personalized advice from qualified professionals regarding all personal finance issues.

This is a private computer system which is restricted to authorized individuals. Actual or attempted unauthorized use of this computer system will result in criminal and/or civil prosecution. We reserve the right to view, monitor and record activity on the system without notice or permission. Any information obtained by monitoring, reviewing or recording is subject to review by law enforcement organizations in connection with the investigation or prosecution of possible criminal activity on the system. If you are not an authorized user of this system or do not consent to continued monitoring, exit the system at this time.