ARM Calculator - Adjustable Rate Mortgage Calculator
Calculate your adjustable rate mortgage payments and compare ARM vs fixed rate options. See how your payments might change over time with our free ARM calculator.
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Calculate your monthly mortgage payments, total interest, and view your complete amortization schedule. No signup required - get instant results.
Loan Details
20.0% down payment
Monthly Payment
$1,878
Principal & Interest
$1,478
Total Interest
$291,980
Loan Amount
$240,000
Payment Breakdown
Loan Summary
Amortization Chart
This chart shows how your payments are split between principal and interest over the life of your loan.
Early payments are mostly interest, while later payments are mostly principal.
Amortization Schedule
Showing payments 1 to 12 of 360
| Payment # | Payment | Principal | Interest | Remaining Balance | Total Interest | Total Principal |
|---|---|---|---|---|---|---|
| 1 | $1,478 | $228 | $1,250 | $239,772 | $1,250 | $228 |
| 2 | $1,478 | $229 | $1,249 | $239,543 | $2,499 | $457 |
| 3 | $1,478 | $230 | $1,248 | $239,313 | $3,746 | $687 |
| 4 | $1,478 | $231 | $1,246 | $239,082 | $4,993 | $918 |
| 5 | $1,478 | $233 | $1,245 | $238,849 | $6,238 | $1,151 |
| 6 | $1,478 | $234 | $1,244 | $238,616 | $7,482 | $1,384 |
| 7 | $1,478 | $235 | $1,243 | $238,381 | $8,725 | $1,619 |
| 8 | $1,478 | $236 | $1,242 | $238,145 | $9,966 | $1,855 |
| 9 | $1,478 | $237 | $1,240 | $237,907 | $11,207 | $2,093 |
| 10 | $1,478 | $239 | $1,239 | $237,669 | $12,446 | $2,331 |
| 11 | $1,478 | $240 | $1,238 | $237,429 | $13,684 | $2,571 |
| 12 | $1,478 | $241 | $1,237 | $237,188 | $14,920 | $2,812 |
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Mortgage Tips
- • Aim for 20% down payment to avoid PMI
- • Compare rates from multiple lenders
- • Consider shorter loan terms for lower interest
Next Steps
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ARM vs Fixed Rate Mortgage
Adjustable Rate Mortgage (ARM)
- ✓Lower initial interest rate
- ✓Lower initial monthly payments
- ✗Rate can increase over time
- ✗Payment uncertainty
Fixed Rate Mortgage
- ✓Rate stays the same
- ✓Predictable payments
- ✗Higher initial rate
- ✗Higher initial payments
Types of ARM Loans
5/1 ARM
Fixed rate for 5 years, then adjusts annually
7/1 ARM
Fixed rate for 7 years, then adjusts annually
10/1 ARM
Fixed rate for 10 years, then adjusts annually
ARM Calculator FAQ
What is an ARM calculator?
An ARM calculator helps you estimate your monthly payments for an adjustable rate mortgage, including how payments might change when the rate adjusts.
How do ARM rates adjust?
ARM rates typically adjust based on a financial index (like the Prime Rate) plus a margin. There are usually caps on how much the rate can increase.
When should I choose an ARM?
ARMs can be good if you plan to move or refinance before the rate adjusts, or if you expect interest rates to decrease.
What are ARM rate caps?
Rate caps limit how much your interest rate can increase. There are usually initial adjustment caps, periodic caps, and lifetime caps.