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Adjustable Rate Mortgage Calculator

Adjustable Rate Mortgage Calculator* - Calculate the monthly payments for an adjustable rate mortgage (ARM loan) and view worst case scenario of mortgage rate adjustments and the affect on the monthly mortgage payments. ARM loans have built in adjustment caps. Typical adjustable rate mortgages will adjust a maximum of 1% ever 6 months or 2% or every 12 months. There are other types of adjustable rate mortgages for which we also have mortgage calculators such as: 2 year arm mortgage, 3 year arm loan, 5 year arm mortgages, 7 year arm mortgages and the once popular pay option arm / pick a payment mortgage with possible negative amortization. This adjustable rate mortgage calculator displays worst case adjustments of mortgage rates and monthly payments as principal pay-down is not calculated by the arm mortgage calculator. ARM loan options assumes a 6% lifetime mortgage rate cap. 

adjustable rate mortgage calculator Adjustable Rate Mortgage Calculator Instructions

Step 1: Enter Your Estimated Adjustable Rate Mortgage Loan Amount
Step 2: Select ARM Loan Initial Starting Interest Rate & Amortization Type
Step 3: Click "Calculate Adjustable Rate Mortgage Loan"

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Adjustable Rate Mortgage Calculator  ///
Mortgage Loan Amount  
Starting Interest Rate
Maximum Rate Adjustments
 
Adjustable Rate Mortgage Calculator Results ///
Max. Adjustments Monthly Payment Monthly Increase % Increase of Payment  Mortgage
Rate
Loan Amortization
Initial 
12 Months
% % Mths
1st. Adjustment
at 12 Months
% % Mths
2nd. Adjustment
at 24 Months
% % Mths
3rd. Adjustment
at 36 Months
% % Mths
4th. Adjustment
at 48 Months
% % Mths
5th. Adjustment
at 60 Months
% % Mths
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ARM Loan Adjustment Summary ///
This adjustable rate mortgage calculator assumes a worst case scenario for an adjustable rate mortgage. For this worst case scenario to take place, your ARM loan's "Index" will need to increase by at least 2 % at each one of the 12 month adjustments. Here is the definitions of each field:

Monthly Payment: Based on a loan amount of
200,000 and an start rate of 5.375%  your monthly payments would be 896. This is your worst case scenario of the maximum monthly payment after each interest rate adjustment . These mortgage payments do not include property taxes, homeowners insurance or PMI (private mortgage insurance) if applicable. 

Monthly Difference: This displays the difference in monthly mortgage payments from the initial starting monthly payments of
896 and the worst case scenario payment of 2015 at the first payment adjustment and the four following adjustments. Based on the information you provided, in 12 months your montly payment would increase by a maximum of  499 per month.

% Increase: The increase in monthly  payments as a percentage amount over the inititial starting monthly payments. In this scenario, assuming a worst case, your payments would increase by
2 % over your intitial monthly payments of 896.

Mortgage Rate: Your initial mortgage start rate is
5.375 %. Based on your selections, the maximum interest rate at the time of the first loan adjustment in 12 months would be 7.375 %. Typically most adjustable rate mortgages have a maximum 6% life time cap for the mortgage which would be 11.375 %. 

Loan Amortization: This indicates the amortization period of your adjustable rate mortgage. You are beginning with a 30 year mortgage. At your first mortgage payment adjustment, your mortgage payment is based on a
30 year amortized loan wtih an interest rate of 5.375%. At your second adjustment, your loan is calculated on a on 29 year amortized loan at the new higher mortgage rate. At each loan adjustment, your amortization schedule gets progressively shorter, thereby increasing the monthly payments.
Note: The amortization schedule used to calculate the new payment does not calculate your principal pay-down, therefore these estimates may be higher than the actual payments.

If you have any questions or comments regarding the results of this mortgage calculator, please feel free to contact us. View other mortgage calculator.
Adjustable Rate Mortgage Calculator Disclosure* - The information provided on or through this site is for purposes of general consumer education only and is not intended as a substitute for advice from a qualified professional, such as, but not limited to, a lawyer, mortgage broker, accountant, investment advisor, insurance broker, financial planner, real estate agent or home inspector. We can not and do not guarantee the accuracy or the applicability of this information to your circumstances. We encourage you to seek personalized advice from qualified professionals regarding all personal finance and real estate issues.
 

 

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