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
Adjustable Rate Mortgage Analyzer
Initital Payment Period
Loan Amount
Principal & Interest
Property Taxes
Insurance
HOA Fees
Total Payment
Financial calculators are for educational purpose only, and are provided to assist you in estimating the approximate costs associated with any financial activity. Your actual costs may vary.