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.
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