ARM vs. Fixed Rate Mortgage

If you're unsure what type of mortgage you want, this calculator will provide a monthly payment comparison for fixed and adjustable rate mortgages. Keep in mind that if the rate isn't capped on your ARM option you could end up paying significantly more. You can get estimates of how high your ARM monthly payment could go by changing the "interest rate cap" number below. For more information on the pros and cons of each mortgage type, see our article on Fixed and Adjustable Rate Mortgages.

ARM vs. Fixed Rate Mortgage Calculator

Find out whether a fixed rate mortgage or an ARM will result in lower monthly payments for you. Enter your information for both the ARM and fixed rate options, and our calculator will compare your monthly mortgage payments for both optoins.

Loan Information
Mortgage loan amount:
Mortgage loan term:
Expected adjustment (%):
Fixed Rate Mortgage
Fixed interest rate (%):
Fully Amortized Adjustable Rate Mortgage
Beginning interest rate (%):
Number of months before first rate adjustment:
Interest rate cap (%):
Comparison Results Fixed ARM
Beginning monthly principal and interest payment:
Total monthly payments:
Total interest:
Maximum monthly payment:

What You Should Know: