Is an Adjustable-Rate Mortgage (ARM) right for me?
As its name implies, the rate changes (adjusts) on a specified schedule after an initial “fixed” period. While your monthly principal and interest payments are not fixed for the life of the loan, you are offered an initial rate that is typically below market. Use this calculator to decide if an Adjustable-Rate Mortgage is the best option for you.
Information and interactive calculators are made available to you as self-help tools for your independent use and are not intended to provide investment advice. We cannot and do not guarantee their applicability or accuracy in regards to your individual circumstances. All examples are hypothetical and are for illustrative purposes. We encourage you to seek personalized advice from qualified professionals regarding all personal finance issues.