Fixed vs. Adjustable Rate Calculator

When you're confronting a mortgage decision, small rate changes can have a big impact on how much house you can afford, or even if you can afford to buy a house at all.

Use this calculator to help you understand the risks of an adjustable-rate mortgage. This will show you the worst-case scenario on costs of an adjustable-rate mortgage based on the parameters you enter.

Keep in mind, most people take an adjustable-rate mortgage expecting to sell the house in a few years or planning to refinance to a fixed rate at some point. Talk to a credit union loan officer for information about your mortgage options.

Loan amount		$
Loan term (years)
	Adjustable	Fixed
Interest rate
Months between adjustments
Maximum rate change/adjustment
Minimum rate
Maximum rate


MONTHLY PAYMENTS:
	Adjustable	Fixed
First monthly payment	$	$
Total payments after 3 years	$	$
Total payments after 7 years	$	$
Total payments after 10 years	$	$
Total payments after 20 years	$	$
Total payments (held to original term)	$	$

Assumptions: The calculator shows results for mortgage amounts only, excluding any up-front fees and points as well as required payments for property taxes and insurance, and excluding any tax benefits that may result from itemizing deductions.

Note: This calculator is solely for information purposes and provides reasonably accurate results. The calculations are not intended to be relied upon as actual results.