Adjustable rate mortgages typically offer home buyers the advantage of having a lower mortgage payment during the initial period of the mortgage. Adjustable rate mortgages are generally offered on a 1, 3, 5 or 7-year basis. Once the initial period expires, the mortgage rate will reset at then current interest rate levels. Depending on the direction interest rates are taking, these resets can result in higher or lower monthly payments to the borrower. This adjustable rate mortgage analyzer will help you understand the implication of your adjustable rate terms by showing what your monthly payment will be under different scenarios.
Adjustable Rate Mortgage Analyzer
Initital Payment Period
Principal & Interest
This calculator is for illustrative purposes only, and is based on information you provided. Actual payment, interest rate, and loan amortization schedule will be determined at time of loan approval.