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.