Adjustable Rate Mortgage Calculator
This calculator will help you to determine what your adjustable rate mortgage payment will be. If you already have an Adjustable Rate Mortgage (ARM), consult your loan documents to find out how many months it will be before your first rate adjustment, the number of months between adjustments, the expected adjustment, and the interest rate cap. If you are in the process of applying for an adjustable rate mortgage, ask your lender for these variables. You may want to use a "worst case scenario" when entering figures for the expected adjustment, or experiment with different adjustment percentages.
Mortgage loan amount:
Beginning interest rate (%):
Mortgage loan term:
Number of months before first rate adjustment:
Number of months between adjustments:
Expected adjustment (%):
Interest rate cap (%):
Beginning monthly principal and interest payment:
Total monthly payments:
Total interest:
Maximum monthly payment:

Please allow a minute or two for the calculator to create your amortization chart.