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FIXED OR ADJUSTABLE RATE MORTGAGE?
If you are trying to determine whether a fixed-rate or an adjustable-rate loan is better for you, the calculator below can help. Enter the specifics for each loan. The calculator will compute the total interest amount that will be paid, the total loan amount as well as what the remaining balance is the conclusion of your expected time of residency.  Learn more about refinancing ARMs.


Fixed vs. Adjustable Rate Calculator

Loan amount
Loan term (in years)
Years you expect to live in house
Fixed interest rate
Initial adjustable interest rate
Years before first adjustment
Years between subsequent adjustments
Maximum increase per period
Maximum interest rate (lifetime cap)

Results Interest paid Total paid Remaining balance
Fixed rate
Adjustable rate - Best-case scenario
Adjustable rate - Worst-case scenario

NOTE: The "best-case" scenario assumes that the interest rate remains at the initial adjustable interest rate for the life of the loan. The "worst-case" scenario assumes that the interest rate increases the maximum allowed at every opportunity until it reaches the lifetime cap.


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