Financial Calculators

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.

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Definitions

Mortgage amountOriginal or expected balance for your mortgage.
Starting interest rateInitial annual interest rate for this mortgage
Term in yearsThe number of years over which you will repay this loan. The most common mortgage terms are 15 years and 30 years.
Interest rate capThis is the highest interest rate allowed by your mortgage. Your actual interest rate will not be adjusted above this rate.
Expected AdjustmentThe 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 adjustmentsThe 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 paymentMonthly principal and interest payment (PI) based on your beginning balance and starting interest rate.
Total paymentsTotal of all monthly payments over the full term of the mortgage. This total payment amount assumes that there are no prepayments of principal.
Total interestTotal 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. We can not and do not guarantee their accuracy or their applicability to your circumstances. We encourage you to seek personalized advice from qualified professionals regarding all personal finance issues.