ARM vs. Fixed Rate Mortgage Calculator

ARM vs. Fixed Rate Mortgage Calculator (click here)

A fixed-rate mortgage has the same payment for the entire term of the loan.  An adjustable rate mortgage (ARM) has a rate that can change, causing your monthly payment to increase or decrease.  This calculator allows you to compare a fixed-rate mortgage to two types of ARMs:  a Fully-Amortizing ARM and an Interest-Only ARM.  Pressing the report button will generate a monthly payment schedule.