Adjustable Rate Mortgage Calculator

Adjustable rate mortgages can provide attractive interest rates, but your payment is not fixed. This calculator helps you to determine what your adjustable mortgage payments may be.

An adjustable rate mortgage calculator would be of interest - and use - to you if you were the owner of an adjustable rate mortgage (a mortgage with a potentially fluxuating rate) or if you were considering the purchase of a home under the contract of an adjustable rate mortgage.

Yes. The best bet is to talk with someone to refinance out of the adjustable rate into a fixed rate (or you could always try and find another adjustable-rate loan but you're probably kicking the can at that point).

Under a fixed rate, the rate does not change during the duration. An adjustable rate is one that can be changed. For instance, if I have 3% interest on something, it can be changed to, say, 3.4% under an adjustable rate.

Having an adjustable rate mortgage means that the interest rate can be changed by you or your loan provider after a few years. This can be dangerous for the homeowner, because if national interest rates go up, the interest rate on your adjustable rate mortgage could go up too.