Adjustable Rate Mortgage (ARM) Calculator

Adjustable rate mortgages (ARMs)

can provide attractive interest rates, however payments are not fixed and may increase upon interest rate reset. The adjustable rate mortgage (ARM) calculator helps you determine what the adjustable rate mortgage (ARM) payments are, and generates a

loan amortization

report.

This Financial Calculator requires SUN's Java™ Plug-in. If you see this message you will need to download SUN's Java™ Plug-in. This can be done automatically by clicking the yellow bar at the top of your browser and choosing “Install ActiveX Control”.

    You can also get SUN's Java™ Plug-in here: Get the Java™ Plug-in!

    For more information about this Plug-in please visit: SUN's Java™ Plug-in
    For more information these financial calculators please visit: Financial Calculators from KJE Computer Solutions, LLC

Adjustable Rate Mortgage (ARM) Calculator - Definitions

This

Adjustable Rate Mortgage (ARM)

calculator generates a fully amortizing ARM, which is the most common type of Adjustable Rate Mortgage (ARM). The monthly Adjustable Rate Mortgage (ARM) payment is calculated to payoff the entire mortgage balance by the end of the term. The Adjustable Rate Mortgage (ARM) term is typically 30 years. At the end of the fixed interest rate period, the interest rate and payment adjust at the frequency specified in the Adjustable Rate Mortgage (ARM) agreement. A Fully Amortizing Adjustable Rate Mortgage (ARM) will also have a maximum rate, often referred to as a cap, that it will not exceed.

The most common types of Fully Amortizing Adjustable Rate Mortgages (ARMs) are:

10/1 Adjustable Rate Mortgage (ARM)


7/1 Adjustable Rate Mortgage (ARM)


5/1 Adjustable Rate Mortgage (ARM)


3/1 Adjustable Rate Mortgage (ARM)


Adjustable Rate Mortgage (ARM)

amount

- Original or expected balance for your Adjustable Rate Mortgage (ARM).
Starting interest rate - Initial annual interest rate for this Adjustable Rate Mortgage (ARM).
Term in years on Adjustable Rate Mortgage (ARM) - The number of years over which you will repay this Adjustable Rate Mortgage (ARM). The most common mortgage terms are 15 years and 30 years.
Interest rate cap - This is the highest interest rate allowed by your Adjustable Rate Mortgage (ARM). Your actual interest rate will not be adjusted above this rate.
Months before first adjustment - This is the number of months that the interest rate is fixed on your Adjustable Rate Mortgage (ARM). After this period, the interest rate will be subject to rate adjustments. If you enter zero in this field, we assume that the rate will begin making adjustments after initial period of time between adjustments has passed. If any number other than zero is entered, the first adjustment will take place at that time, and adjustments will happen at the frequency entered in the "months between adjustments" field.
Expected adjustment - The amount you believe that your

Adjustable Rate Mortgage (ARM)

interest rate will change. This amount will be added to or subtracted from your interest rate.
Months between adjustments - The number of payment periods between potential adjustments to your interest rate. The most common is 12 months, which means your Adjustable Rate Mortgage (ARM) payments could change at most once per year.
Starting monthly payment - Monthly principal and interest payment (PI) on the Adjustable Rate Mortgage (ARM) based on your beginning balance and starting interest rate.
Total payments - Total of all monthly payments over the full term of the Adjustable Rate Mortgage (ARM). This total payment amount assumes that there are no prepayments of principal.
Total interest - Total of all interest paid over the full term of the Adjustable Rate Mortgage (ARM). This total interest amount assumes that there are no prepayments of principal on the Adjustable Rate Mortgage (ARM). Use this calculator to calculate the annual percentage rate APR for adjustable rate mortgage (ARM).


FREE ONLINE CALCULATORS AND DECISION TOOLS


CalculatorPlus.com

provides many free personal finance calculators and decision tools to help assist you in making smart financial desisions in the following areas:

Mortgages & Loans -

Determine maximum mortgage you qualify for

Credit Cards -

Determine how long it will take you to payoff your credit cards

Auto and Car Financing -

Compare financing between your credit union and dealer financing

Savings & Deposits -

What will it take to save one million dollars?

Investments & Asset Allocation -

Create a balanced portfolio of investments

Insurance & Annuity -

How much life insurance do you need?

Retirement & Social Security -

How important is Social Security?

Business, Cash Flow & Working Capital -

Determine cash flow generated by your business

CalculatorPlus provides free mortgage loan calculator to calculate adjustable rate mortgage or to determine mortgage approval. In addition, homeowners can use the mortgage calculator insurance to calculate their monthly mortgage payment, or the loan amortization calculator to generate an amortization schedule. These loan calculators and other finance calculator including CD calculator and credit card calculator available on CalculatorPlus can help homeowners and other users make smart personal finance decisions (calculator loan).

Mortgage MarketPlace

Download Free
Mortgage Widget