ARM vs Fixed Rate Mortgage Calculator

Find out which rate type is the right match for you

calculators

This tool calculates the monthly mortgage payment for a fixed- and adjustable-rate mortgage (ARM) loan, given their respective interest rates and other loan terms.

Payments on an adjustable-rate mortgage are fixed for an initial period and are usually adjusted annually after the initial period. For example, a 3/1 ARM loan would have a fixed rate for the first three years and be readjusted once a year thereafter.

The interest rate on an adjustable-rate mortgage loan is usually reset on the loan's anniversary date. To calculate the new rate, a spread, or margin, is added to a widely used index rate.

Adjustable-rate mortgage loans usually have a periodic and lifetime cap that limit how much the interest rate can change in one period and the maximum interest rate during the lifetime of the loan, respectively.




Minimum loan amount of $175,000 required to apply. Exceptions include mortgage products for properties located within the Greater Kansas City metro and surrounding areas. Contact a NASB Loan Officer for more details on the specific areas and/or zip codes excluded.