Fixed vs. Adjustable Rate Mortgage
How To Decide Between a Fixed and Adjustable Rate
Weighing the pros and cons of a fixed rate mortgage vs. adjustable rate mortgage (ARM) can be complicated. To compare these options, factor in the length of the loan, when and how often adjustments occur, which index the lender will use, plus any assumptions about future interest rates. This calculator will make the process simple and walk you thru running the numbers.
Fixed rate loan:
Adjustable rate loan:
These calculations are tools for learning more about the mortgage process and do not constitute an offer or approval of credit.
Fixed vs. Adjustable Costs
These are the total costs of the loans over the years you have specified.
Other calculators you might be interested in:
Fixed
$1,257
per month
Adjustable
$1,026 per month
Matt Morris
Senior Loan Originator
NMLS#
408651
214-207-6320