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Compare Today's Home Equity Rates |
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ARM Mortgage Calculator
| Today's Home Equity Rates |
Check Today's Mortgage Rates |
ARM Mortgage Calculator excel to calculate the monthly payments for adjustable rate mortgages. Adjustable Rate Mortgage Calculator has options to calculate any type of ARM mortgage and the ability to export the ARM amortization schedule to an excel spreadsheet. If there is no cap on your ARM mortgage, simply set a very high interest rate cap.
Mortgage Calculator Results |
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Mortgage Amount: |
$300,000.00 | |||||
Initial Monthly Payment: |
$1,610.46 | |||||
Final Monthly Payment: |
$2,246.54 | |||||
Total # Of Payments: |
360 | |||||
Start Date: |
Oct, 2024 | |||||
Payoff Date: |
Sep, 2054 | |||||
Total Interest Paid: |
$402,930.17 | |||||
Total Payment: |
$702,930.17 | |||||
ARM Mortgage Amortization Schedule |
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| Payment Date | Payment # | Interest Paid | Principal Paid | Total Payment | Remaining Balance | |
|---|---|---|---|---|---|---|
| Oct, 2024 | 1 | $1,250.00 | $360.46 | $1,610.46 | $299,639.54 | |
| Nov, 2024 | 2 | $1,248.50 | $361.97 | $1,610.46 | $299,277.57 | |
| Dec, 2024 | 3 | $1,246.99 | $363.48 | $1,610.46 | $298,914.09 | |
| Jan, 2025 | 4 | $1,245.48 | $364.99 | $1,610.46 | $298,549.10 | |
| Feb, 2025 | 5 | $1,243.95 | $366.51 | $1,610.46 | $298,182.59 | |
| Mar, 2025 | 6 | $1,242.43 | $368.04 | $1,610.46 | $297,814.56 | |
| Apr, 2025 | 7 | $1,240.89 | $369.57 | $1,610.46 | $297,444.99 | |
| May, 2025 | 8 | $1,239.35 | $371.11 | $1,610.46 | $297,073.87 | |
| Jun, 2025 | 9 | $1,237.81 | $372.66 | $1,610.46 | $296,701.22 | |
| Jul, 2025 | 10 | $1,236.26 | $374.21 | $1,610.46 | $296,327.01 | |
| Aug, 2025 | 11 | $1,234.70 | $375.77 | $1,610.46 | $295,951.24 | |
| Sep, 2025 | 12 | $1,233.13 | $377.33 | $1,610.46 | $295,573.90 | |
| Oct, 2025 | 13 | $1,231.56 | $378.91 | $1,610.46 | $295,195.00 | |
| Nov, 2025 | 14 | $1,229.98 | $380.49 | $1,610.46 | $294,814.51 | |
| Dec, 2025 | 15 | $1,228.39 | $382.07 | $1,610.46 | $294,432.44 | |
| Jan, 2026 | 16 | $1,226.80 | $383.66 | $1,610.46 | $294,048.78 | |
| Feb, 2026 | 17 | $1,225.20 | $385.26 | $1,610.46 | $293,663.52 | |
| Mar, 2026 | 18 | $1,223.60 | $386.87 | $1,610.46 | $293,276.65 | |
| Apr, 2026 | 19 | $1,221.99 | $388.48 | $1,610.46 | $292,888.17 | |
| May, 2026 | 20 | $1,220.37 | $390.10 | $1,610.46 | $292,498.07 | |
| Jun, 2026 | 21 | $1,218.74 | $391.72 | $1,610.46 | $292,106.35 | |
| Jul, 2026 | 22 | $1,217.11 | $393.36 | $1,610.46 | $291,712.99 | |
| Aug, 2026 | 23 | $1,215.47 | $394.99 | $1,610.46 | $291,318.00 | |
| Sep, 2026 | 24 | $1,213.83 | $396.64 | $1,610.46 | $290,921.36 | |
| Oct, 2026 | 25 | $1,212.17 | $398.29 | $1,610.46 | $290,523.07 | |
| Nov, 2026 | 26 | $1,210.51 | $399.95 | $1,610.46 | $290,123.12 | |
| Dec, 2026 | 27 | $1,208.85 | $401.62 | $1,610.46 | $289,721.50 | |
| Jan, 2027 | 28 | $1,207.17 | $403.29 | $1,610.46 | $289,318.21 | |
| Feb, 2027 | 29 | $1,205.49 | $404.97 | $1,610.46 | $288,913.23 | |
| Mar, 2027 | 30 | $1,203.81 | $406.66 | $1,610.46 | $288,506.57 | |
| Apr, 2027 | 31 | $1,202.11 | $408.35 | $1,610.46 | $288,098.22 | |
| May, 2027 | 32 | $1,200.41 | $410.06 | $1,610.46 | $287,688.16 | |
| Jun, 2027 | 33 | $1,198.70 | $411.76 | $1,610.46 | $287,276.40 | |
| Jul, 2027 | 34 | $1,196.98 | $413.48 | $1,610.46 | $286,862.92 | |
| Aug, 2027 | 35 | $1,195.26 | $415.20 | $1,610.46 | $286,447.72 | |
| Sep, 2027 | 36 | $1,193.53 | $416.93 | $1,610.46 | $286,030.78 | |
| Oct, 2027 | 37 | $1,191.79 | $418.67 | $1,610.46 | $285,612.11 | |
| Nov, 2027 | 38 | $1,190.05 | $420.41 | $1,610.46 | $285,191.70 | |
| Dec, 2027 | 39 | $1,188.30 | $422.17 | $1,610.46 | $284,769.53 | |
| Jan, 2028 | 40 | $1,186.54 | $423.93 | $1,610.46 | $284,345.61 | |
| Feb, 2028 | 41 | $1,184.77 | $425.69 | $1,610.46 | $283,919.92 | |
| Mar, 2028 | 42 | $1,183.00 | $427.47 | $1,610.46 | $283,492.45 | |
| Apr, 2028 | 43 | $1,181.22 | $429.25 | $1,610.46 | $283,063.21 | |
| May, 2028 | 44 | $1,179.43 | $431.03 | $1,610.46 | $282,632.17 | |
| Jun, 2028 | 45 | $1,177.63 | $432.83 | $1,610.46 | $282,199.34 | |
| Jul, 2028 | 46 | $1,175.83 | $434.63 | $1,610.46 | $281,764.71 | |
| Aug, 2028 | 47 | $1,174.02 | $436.45 | $1,610.46 | $281,328.26 | |
| Sep, 2028 | 48 | $1,172.20 | $438.26 | $1,610.46 | $280,890.00 | |
| Oct, 2028 | 49 | $1,170.37 | $440.09 | $1,610.46 | $280,449.91 | |
| Nov, 2028 | 50 | $1,168.54 | $441.92 | $1,610.46 | $280,007.98 | |
| Dec, 2028 | 51 | $1,166.70 | $443.76 | $1,610.46 | $279,564.22 | |
| Jan, 2029 | 52 | $1,164.85 | $445.61 | $1,610.46 | $279,118.60 | |
| Feb, 2029 | 53 | $1,162.99 | $447.47 | $1,610.46 | $278,671.13 | |
| Mar, 2029 | 54 | $1,161.13 | $449.34 | $1,610.46 | $278,221.80 | |
| Apr, 2029 | 55 | $1,159.26 | $451.21 | $1,610.46 | $277,770.59 | |
| May, 2029 | 56 | $1,157.38 | $453.09 | $1,610.46 | $277,317.50 | |
| Jun, 2029 | 57 | $1,155.49 | $454.98 | $1,610.46 | $276,862.53 | |
| Jul, 2029 | 58 | $1,153.59 | $456.87 | $1,610.46 | $276,405.66 | |
| Aug, 2029 | 59 | $1,151.69 | $458.77 | $1,610.46 | $275,946.88 | |
| Sep, 2029 | 60 | $1,149.78 | $460.69 | $1,610.46 | $275,486.20 | |
| Oct, 2029 | 61 | $1,205.25 | $445.59 | $1,650.84 | $275,040.60 | |
| Nov, 2029 | 62 | $1,203.30 | $447.54 | $1,650.84 | $274,593.06 | |
| Dec, 2029 | 63 | $1,201.34 | $449.50 | $1,650.84 | $274,143.56 | |
| Jan, 2030 | 64 | $1,199.38 | $451.47 | $1,650.84 | $273,692.09 | |
| Feb, 2030 | 65 | $1,197.40 | $453.44 | $1,650.84 | $273,238.65 | |
| Mar, 2030 | 66 | $1,195.42 | $455.43 | $1,650.84 | $272,783.23 | |
| Apr, 2030 | 67 | $1,193.43 | $457.42 | $1,650.84 | $272,325.81 | |
| May, 2030 | 68 | $1,191.43 | $459.42 | $1,650.84 | $271,866.39 | |
| Jun, 2030 | 69 | $1,189.42 | $461.43 | $1,650.84 | $271,404.96 | |
| Jul, 2030 | 70 | $1,187.40 | $463.45 | $1,650.84 | $270,941.51 | |
| Aug, 2030 | 71 | $1,185.37 | $465.48 | $1,650.84 | $270,476.04 | |
| Sep, 2030 | 72 | $1,183.33 | $467.51 | $1,650.84 | $270,008.52 | |
| Oct, 2030 | 73 | $1,237.54 | $452.95 | $1,690.49 | $269,555.57 | |
| Nov, 2030 | 74 | $1,235.46 | $455.03 | $1,690.49 | $269,100.54 | |
| Dec, 2030 | 75 | $1,233.38 | $457.12 | $1,690.49 | $268,643.42 | |
| Jan, 2031 | 76 | $1,231.28 | $459.21 | $1,690.49 | $268,184.21 | |
| Feb, 2031 | 77 | $1,229.18 | $461.32 | $1,690.49 | $267,722.90 | |
| Mar, 2031 | 78 | $1,227.06 | $463.43 | $1,690.49 | $267,259.47 | |
| Apr, 2031 | 79 | $1,224.94 | $465.55 | $1,690.49 | $266,793.91 | |
| May, 2031 | 80 | $1,222.81 | $467.69 | $1,690.49 | $266,326.22 | |
| Jun, 2031 | 81 | $1,220.66 | $469.83 | $1,690.49 | $265,856.39 | |
| Jul, 2031 | 82 | $1,218.51 | $471.99 | $1,690.49 | $265,384.41 | |
| Aug, 2031 | 83 | $1,216.35 | $474.15 | $1,690.49 | $264,910.26 | |
| Sep, 2031 | 84 | $1,214.17 | $476.32 | $1,690.49 | $264,433.94 | |
| Oct, 2031 | 85 | $1,267.08 | $462.28 | $1,729.36 | $263,971.66 | |
| Nov, 2031 | 86 | $1,264.86 | $464.49 | $1,729.36 | $263,507.17 | |
| Dec, 2031 | 87 | $1,262.64 | $466.72 | $1,729.36 | $263,040.45 | |
| Jan, 2032 | 88 | $1,260.40 | $468.95 | $1,729.36 | $262,571.50 | |
| Feb, 2032 | 89 | $1,258.16 | $471.20 | $1,729.36 | $262,100.30 | |
| Mar, 2032 | 90 | $1,255.90 | $473.46 | $1,729.36 | $261,626.84 | |
| Apr, 2032 | 91 | $1,253.63 | $475.73 | $1,729.36 | $261,151.11 | |
| May, 2032 | 92 | $1,251.35 | $478.01 | $1,729.36 | $260,673.11 | |
| Jun, 2032 | 93 | $1,249.06 | $480.30 | $1,729.36 | $260,192.81 | |
| Jul, 2032 | 94 | $1,246.76 | $482.60 | $1,729.36 | $259,710.21 | |
| Aug, 2032 | 95 | $1,244.44 | $484.91 | $1,729.36 | $259,225.30 | |
| Sep, 2032 | 96 | $1,242.12 | $487.23 | $1,729.36 | $258,738.07 | |
| Oct, 2032 | 97 | $1,293.69 | $473.68 | $1,767.37 | $258,264.39 | |
| Nov, 2032 | 98 | $1,291.32 | $476.05 | $1,767.37 | $257,788.33 | |
| Dec, 2032 | 99 | $1,288.94 | $478.43 | $1,767.37 | $257,309.90 | |
| Jan, 2033 | 100 | $1,286.55 | $480.82 | $1,767.37 | $256,829.08 | |
| Feb, 2033 | 101 | $1,284.15 | $483.23 | $1,767.37 | $256,345.85 | |
| Mar, 2033 | 102 | $1,281.73 | $485.64 | $1,767.37 | $255,860.20 | |
| Apr, 2033 | 103 | $1,279.30 | $488.07 | $1,767.37 | $255,372.13 | |
| May, 2033 | 104 | $1,276.86 | $490.51 | $1,767.37 | $254,881.62 | |
| Jun, 2033 | 105 | $1,274.41 | $492.97 | $1,767.37 | $254,388.65 | |
| Jul, 2033 | 106 | $1,271.94 | $495.43 | $1,767.37 | $253,893.22 | |
| Aug, 2033 | 107 | $1,269.47 | $497.91 | $1,767.37 | $253,395.32 | |
| Sep, 2033 | 108 | $1,266.98 | $500.40 | $1,767.37 | $252,894.92 | |
| Oct, 2033 | 109 | $1,317.16 | $487.33 | $1,804.49 | $252,407.59 | |
| Nov, 2033 | 110 | $1,314.62 | $489.87 | $1,804.49 | $251,917.72 | |
| Dec, 2033 | 111 | $1,312.07 | $492.42 | $1,804.49 | $251,425.30 | |
| Jan, 2034 | 112 | $1,309.51 | $494.98 | $1,804.49 | $250,930.32 | |
| Feb, 2034 | 113 | $1,306.93 | $497.56 | $1,804.49 | $250,432.76 | |
| Mar, 2034 | 114 | $1,304.34 | $500.15 | $1,804.49 | $249,932.61 | |
| Apr, 2034 | 115 | $1,301.73 | $502.76 | $1,804.49 | $249,429.85 | |
| May, 2034 | 116 | $1,299.11 | $505.38 | $1,804.49 | $248,924.47 | |
| Jun, 2034 | 117 | $1,296.48 | $508.01 | $1,804.49 | $248,416.46 | |
| Jul, 2034 | 118 | $1,293.84 | $510.65 | $1,804.49 | $247,905.81 | |
| Aug, 2034 | 119 | $1,291.18 | $513.31 | $1,804.49 | $247,392.50 | |
| Sep, 2034 | 120 | $1,288.50 | $515.99 | $1,804.49 | $246,876.51 | |
| Oct, 2034 | 121 | $1,337.25 | $503.40 | $1,840.64 | $246,373.11 | |
| Nov, 2034 | 122 | $1,334.52 | $506.12 | $1,840.64 | $245,866.99 | |
| Dec, 2034 | 123 | $1,331.78 | $508.87 | $1,840.64 | $245,358.12 | |
| Jan, 2035 | 124 | $1,329.02 | $511.62 | $1,840.64 | $244,846.50 | |
| Feb, 2035 | 125 | $1,326.25 | $514.39 | $1,840.64 | $244,332.11 | |
| Mar, 2035 | 126 | $1,323.47 | $517.18 | $1,840.64 | $243,814.93 | |
| Apr, 2035 | 127 | $1,320.66 | $519.98 | $1,840.64 | $243,294.95 | |
| May, 2035 | 128 | $1,317.85 | $522.80 | $1,840.64 | $242,772.15 | |
| Jun, 2035 | 129 | $1,315.02 | $525.63 | $1,840.64 | $242,246.52 | |
| Jul, 2035 | 130 | $1,312.17 | $528.48 | $1,840.64 | $241,718.04 | |
| Aug, 2035 | 131 | $1,309.31 | $531.34 | $1,840.64 | $241,186.71 | |
| Sep, 2035 | 132 | $1,306.43 | $534.22 | $1,840.64 | $240,652.49 | |
| Oct, 2035 | 133 | $1,353.67 | $522.11 | $1,875.78 | $240,130.38 | |
| Nov, 2035 | 134 | $1,350.73 | $525.04 | $1,875.78 | $239,605.34 | |
| Dec, 2035 | 135 | $1,347.78 | $528.00 | $1,875.78 | $239,077.34 | |
| Jan, 2036 | 136 | $1,344.81 | $530.97 | $1,875.78 | $238,546.38 | |
| Feb, 2036 | 137 | $1,341.82 | $533.95 | $1,875.78 | $238,012.42 | |
| Mar, 2036 | 138 | $1,338.82 | $536.96 | $1,875.78 | $237,475.46 | |
| Apr, 2036 | 139 | $1,335.80 | $539.98 | $1,875.78 | $236,935.49 | |
| May, 2036 | 140 | $1,332.76 | $543.01 | $1,875.78 | $236,392.47 | |
| Jun, 2036 | 141 | $1,329.71 | $546.07 | $1,875.78 | $235,846.40 | |
| Jul, 2036 | 142 | $1,326.64 | $549.14 | $1,875.78 | $235,297.26 | |
| Aug, 2036 | 143 | $1,323.55 | $552.23 | $1,875.78 | $234,745.03 | |
| Sep, 2036 | 144 | $1,320.44 | $555.34 | $1,875.78 | $234,189.70 | |
| Oct, 2036 | 145 | $1,366.11 | $543.72 | $1,909.82 | $233,645.98 | |
| Nov, 2036 | 146 | $1,362.93 | $546.89 | $1,909.82 | $233,099.09 | |
| Dec, 2036 | 147 | $1,359.74 | $550.08 | $1,909.82 | $232,549.02 | |
| Jan, 2037 | 148 | $1,356.54 | $553.29 | $1,909.82 | $231,995.73 | |
| Feb, 2037 | 149 | $1,353.31 | $556.51 | $1,909.82 | $231,439.22 | |
| Mar, 2037 | 150 | $1,350.06 | $559.76 | $1,909.82 | $230,879.46 | |
| Apr, 2037 | 151 | $1,346.80 | $563.03 | $1,909.82 | $230,316.43 | |
| May, 2037 | 152 | $1,343.51 | $566.31 | $1,909.82 | $229,750.12 | |
| Jun, 2037 | 153 | $1,340.21 | $569.61 | $1,909.82 | $229,180.51 | |
| Jul, 2037 | 154 | $1,336.89 | $572.94 | $1,909.82 | $228,607.57 | |
| Aug, 2037 | 155 | $1,333.54 | $576.28 | $1,909.82 | $228,031.30 | |
| Sep, 2037 | 156 | $1,330.18 | $579.64 | $1,909.82 | $227,451.66 | |
| Oct, 2037 | 157 | $1,374.19 | $568.53 | $1,942.71 | $226,883.13 | |
| Nov, 2037 | 158 | $1,370.75 | $571.96 | $1,942.71 | $226,311.17 | |
| Dec, 2037 | 159 | $1,367.30 | $575.42 | $1,942.71 | $225,735.75 | |
| Jan, 2038 | 160 | $1,363.82 | $578.89 | $1,942.71 | $225,156.85 | |
| Feb, 2038 | 161 | $1,360.32 | $582.39 | $1,942.71 | $224,574.46 | |
| Mar, 2038 | 162 | $1,356.80 | $585.91 | $1,942.71 | $223,988.55 | |
| Apr, 2038 | 163 | $1,353.26 | $589.45 | $1,942.71 | $223,399.10 | |
| May, 2038 | 164 | $1,349.70 | $593.01 | $1,942.71 | $222,806.09 | |
| Jun, 2038 | 165 | $1,346.12 | $596.59 | $1,942.71 | $222,209.49 | |
| Jul, 2038 | 166 | $1,342.52 | $600.20 | $1,942.71 | $221,609.30 | |
| Aug, 2038 | 167 | $1,338.89 | $603.83 | $1,942.71 | $221,005.47 | |
| Sep, 2038 | 168 | $1,335.24 | $607.47 | $1,942.71 | $220,398.00 | |
| Oct, 2038 | 169 | $1,377.49 | $596.90 | $1,974.39 | $219,801.10 | |
| Nov, 2038 | 170 | $1,373.76 | $600.63 | $1,974.39 | $219,200.47 | |
| Dec, 2038 | 171 | $1,370.00 | $604.38 | $1,974.39 | $218,596.09 | |
| Jan, 2039 | 172 | $1,366.23 | $608.16 | $1,974.39 | $217,987.93 | |
| Feb, 2039 | 173 | $1,362.42 | $611.96 | $1,974.39 | $217,375.96 | |
| Mar, 2039 | 174 | $1,358.60 | $615.79 | $1,974.39 | $216,760.18 | |
| Apr, 2039 | 175 | $1,354.75 | $619.63 | $1,974.39 | $216,140.54 | |
| May, 2039 | 176 | $1,350.88 | $623.51 | $1,974.39 | $215,517.04 | |
| Jun, 2039 | 177 | $1,346.98 | $627.40 | $1,974.39 | $214,889.63 | |
| Jul, 2039 | 178 | $1,343.06 | $631.33 | $1,974.39 | $214,258.30 | |
| Aug, 2039 | 179 | $1,339.11 | $635.27 | $1,974.39 | $213,623.03 | |
| Sep, 2039 | 180 | $1,335.14 | $639.24 | $1,974.39 | $212,983.79 | |
| Oct, 2039 | 181 | $1,375.52 | $629.24 | $2,004.76 | $212,354.55 | |
| Nov, 2039 | 182 | $1,371.46 | $633.31 | $2,004.76 | $211,721.24 | |
| Dec, 2039 | 183 | $1,367.37 | $637.40 | $2,004.76 | $211,083.84 | |
| Jan, 2040 | 184 | $1,363.25 | $641.51 | $2,004.76 | $210,442.32 | |
| Feb, 2040 | 185 | $1,359.11 | $645.66 | $2,004.76 | $209,796.67 | |
| Mar, 2040 | 186 | $1,354.94 | $649.83 | $2,004.76 | $209,146.84 | |
| Apr, 2040 | 187 | $1,350.74 | $654.02 | $2,004.76 | $208,492.81 | |
| May, 2040 | 188 | $1,346.52 | $658.25 | $2,004.76 | $207,834.57 | |
| Jun, 2040 | 189 | $1,342.26 | $662.50 | $2,004.76 | $207,172.07 | |
| Jul, 2040 | 190 | $1,337.99 | $666.78 | $2,004.76 | $206,505.29 | |
| Aug, 2040 | 191 | $1,333.68 | $671.08 | $2,004.76 | $205,834.20 | |
| Sep, 2040 | 192 | $1,329.35 | $675.42 | $2,004.76 | $205,158.78 | |
| Oct, 2040 | 193 | $1,367.73 | $666.05 | $2,033.78 | $204,492.73 | |
| Nov, 2040 | 194 | $1,363.28 | $670.49 | $2,033.78 | $203,822.24 | |
| Dec, 2040 | 195 | $1,358.81 | $674.96 | $2,033.78 | $203,147.28 | |
| Jan, 2041 | 196 | $1,354.32 | $679.46 | $2,033.78 | $202,467.82 | |
| Feb, 2041 | 197 | $1,349.79 | $683.99 | $2,033.78 | $201,783.83 | |
| Mar, 2041 | 198 | $1,345.23 | $688.55 | $2,033.78 | $201,095.28 | |
| Apr, 2041 | 199 | $1,340.64 | $693.14 | $2,033.78 | $200,402.13 | |
| May, 2041 | 200 | $1,336.01 | $697.76 | $2,033.78 | $199,704.37 | |
| Jun, 2041 | 201 | $1,331.36 | $702.41 | $2,033.78 | $199,001.96 | |
| Jul, 2041 | 202 | $1,326.68 | $707.10 | $2,033.78 | $198,294.86 | |
| Aug, 2041 | 203 | $1,321.97 | $711.81 | $2,033.78 | $197,583.05 | |
| Sep, 2041 | 204 | $1,317.22 | $716.56 | $2,033.78 | $196,866.50 | |
| Oct, 2041 | 205 | $1,353.46 | $707.89 | $2,061.34 | $196,158.61 | |
| Nov, 2041 | 206 | $1,348.59 | $712.75 | $2,061.34 | $195,445.86 | |
| Dec, 2041 | 207 | $1,343.69 | $717.65 | $2,061.34 | $194,728.20 | |
| Jan, 2042 | 208 | $1,338.76 | $722.59 | $2,061.34 | $194,005.62 | |
| Feb, 2042 | 209 | $1,333.79 | $727.55 | $2,061.34 | $193,278.06 | |
| Mar, 2042 | 210 | $1,328.79 | $732.56 | $2,061.34 | $192,545.51 | |
| Apr, 2042 | 211 | $1,323.75 | $737.59 | $2,061.34 | $191,807.91 | |
| May, 2042 | 212 | $1,318.68 | $742.66 | $2,061.34 | $191,065.25 | |
| Jun, 2042 | 213 | $1,313.57 | $747.77 | $2,061.34 | $190,317.48 | |
| Jul, 2042 | 214 | $1,308.43 | $752.91 | $2,061.34 | $189,564.57 | |
| Aug, 2042 | 215 | $1,303.26 | $758.09 | $2,061.34 | $188,806.48 | |
| Sep, 2042 | 216 | $1,298.04 | $763.30 | $2,061.34 | $188,043.19 | |
| Oct, 2042 | 217 | $1,331.97 | $755.41 | $2,087.38 | $187,287.77 | |
| Nov, 2042 | 218 | $1,326.62 | $760.76 | $2,087.38 | $186,527.01 | |
| Dec, 2042 | 219 | $1,321.23 | $766.15 | $2,087.38 | $185,760.86 | |
| Jan, 2043 | 220 | $1,315.81 | $771.58 | $2,087.38 | $184,989.28 | |
| Feb, 2043 | 221 | $1,310.34 | $777.04 | $2,087.38 | $184,212.24 | |
| Mar, 2043 | 222 | $1,304.84 | $782.55 | $2,087.38 | $183,429.69 | |
| Apr, 2043 | 223 | $1,299.29 | $788.09 | $2,087.38 | $182,641.60 | |
| May, 2043 | 224 | $1,293.71 | $793.67 | $2,087.38 | $181,847.93 | |
| Jun, 2043 | 225 | $1,288.09 | $799.29 | $2,087.38 | $181,048.64 | |
| Jul, 2043 | 226 | $1,282.43 | $804.96 | $2,087.38 | $180,243.68 | |
| Aug, 2043 | 227 | $1,276.73 | $810.66 | $2,087.38 | $179,433.02 | |
| Sep, 2043 | 228 | $1,270.98 | $816.40 | $2,087.38 | $178,616.62 | |
| Oct, 2043 | 229 | $1,302.41 | $809.40 | $2,111.81 | $177,807.22 | |
| Nov, 2043 | 230 | $1,296.51 | $815.30 | $2,111.81 | $176,991.92 | |
| Dec, 2043 | 231 | $1,290.57 | $821.25 | $2,111.81 | $176,170.67 | |
| Jan, 2044 | 232 | $1,284.58 | $827.24 | $2,111.81 | $175,343.43 | |
| Feb, 2044 | 233 | $1,278.55 | $833.27 | $2,111.81 | $174,510.17 | |
| Mar, 2044 | 234 | $1,272.47 | $839.34 | $2,111.81 | $173,670.82 | |
| Apr, 2044 | 235 | $1,266.35 | $845.46 | $2,111.81 | $172,825.36 | |
| May, 2044 | 236 | $1,260.18 | $851.63 | $2,111.81 | $171,973.73 | |
| Jun, 2044 | 237 | $1,253.98 | $857.84 | $2,111.81 | $171,115.89 | |
| Jul, 2044 | 238 | $1,247.72 | $864.09 | $2,111.81 | $170,251.79 | |
| Aug, 2044 | 239 | $1,241.42 | $870.39 | $2,111.81 | $169,381.40 | |
| Sep, 2044 | 240 | $1,235.07 | $876.74 | $2,111.81 | $168,504.66 | |
| Oct, 2044 | 241 | $1,263.78 | $870.76 | $2,134.55 | $167,633.90 | |
| Nov, 2044 | 242 | $1,257.25 | $877.29 | $2,134.55 | $166,756.61 | |
| Dec, 2044 | 243 | $1,250.67 | $883.87 | $2,134.55 | $165,872.73 | |
| Jan, 2045 | 244 | $1,244.05 | $890.50 | $2,134.55 | $164,982.23 | |
| Feb, 2045 | 245 | $1,237.37 | $897.18 | $2,134.55 | $164,085.06 | |
| Mar, 2045 | 246 | $1,230.64 | $903.91 | $2,134.55 | $163,181.15 | |
| Apr, 2045 | 247 | $1,223.86 | $910.69 | $2,134.55 | $162,270.46 | |
| May, 2045 | 248 | $1,217.03 | $917.52 | $2,134.55 | $161,352.94 | |
| Jun, 2045 | 249 | $1,210.15 | $924.40 | $2,134.55 | $160,428.54 | |
| Jul, 2045 | 250 | $1,203.21 | $931.33 | $2,134.55 | $159,497.21 | |
| Aug, 2045 | 251 | $1,196.23 | $938.32 | $2,134.55 | $158,558.90 | |
| Sep, 2045 | 252 | $1,189.19 | $945.35 | $2,134.55 | $157,613.54 | |
| Oct, 2045 | 253 | $1,214.94 | $940.55 | $2,155.49 | $156,672.99 | |
| Nov, 2045 | 254 | $1,207.69 | $947.80 | $2,155.49 | $155,725.19 | |
| Dec, 2045 | 255 | $1,200.38 | $955.11 | $2,155.49 | $154,770.09 | |
| Jan, 2046 | 256 | $1,193.02 | $962.47 | $2,155.49 | $153,807.62 | |
| Feb, 2046 | 257 | $1,185.60 | $969.89 | $2,155.49 | $152,837.73 | |
| Mar, 2046 | 258 | $1,178.12 | $977.36 | $2,155.49 | $151,860.37 | |
| Apr, 2046 | 259 | $1,170.59 | $984.90 | $2,155.49 | $150,875.47 | |
| May, 2046 | 260 | $1,163.00 | $992.49 | $2,155.49 | $149,882.98 | |
| Jun, 2046 | 261 | $1,155.35 | $1,000.14 | $2,155.49 | $148,882.84 | |
| Jul, 2046 | 262 | $1,147.64 | $1,007.85 | $2,155.49 | $147,875.00 | |
| Aug, 2046 | 263 | $1,139.87 | $1,015.62 | $2,155.49 | $146,859.38 | |
| Sep, 2046 | 264 | $1,132.04 | $1,023.45 | $2,155.49 | $145,835.93 | |
| Oct, 2046 | 265 | $1,154.53 | $1,020.01 | $2,174.54 | $144,815.92 | |
| Nov, 2046 | 266 | $1,146.46 | $1,028.08 | $2,174.54 | $143,787.84 | |
| Dec, 2046 | 267 | $1,138.32 | $1,036.22 | $2,174.54 | $142,751.62 | |
| Jan, 2047 | 268 | $1,130.12 | $1,044.43 | $2,174.54 | $141,707.19 | |
| Feb, 2047 | 269 | $1,121.85 | $1,052.69 | $2,174.54 | $140,654.50 | |
| Mar, 2047 | 270 | $1,113.51 | $1,061.03 | $2,174.54 | $139,593.47 | |
| Apr, 2047 | 271 | $1,105.11 | $1,069.43 | $2,174.54 | $138,524.04 | |
| May, 2047 | 272 | $1,096.65 | $1,077.89 | $2,174.54 | $137,446.15 | |
| Jun, 2047 | 273 | $1,088.12 | $1,086.43 | $2,174.54 | $136,359.72 | |
| Jul, 2047 | 274 | $1,079.51 | $1,095.03 | $2,174.54 | $135,264.69 | |
| Aug, 2047 | 275 | $1,070.85 | $1,103.70 | $2,174.54 | $134,160.99 | |
| Sep, 2047 | 276 | $1,062.11 | $1,112.44 | $2,174.54 | $133,048.56 | |
| Oct, 2047 | 277 | $1,081.02 | $1,110.60 | $2,191.62 | $131,937.96 | |
| Nov, 2047 | 278 | $1,072.00 | $1,119.62 | $2,191.62 | $130,818.34 | |
| Dec, 2047 | 279 | $1,062.90 | $1,128.72 | $2,191.62 | $129,689.62 | |
| Jan, 2048 | 280 | $1,053.73 | $1,137.89 | $2,191.62 | $128,551.74 | |
| Feb, 2048 | 281 | $1,044.48 | $1,147.13 | $2,191.62 | $127,404.61 | |
| Mar, 2048 | 282 | $1,035.16 | $1,156.45 | $2,191.62 | $126,248.15 | |
| Apr, 2048 | 283 | $1,025.77 | $1,165.85 | $2,191.62 | $125,082.30 | |
| May, 2048 | 284 | $1,016.29 | $1,175.32 | $2,191.62 | $123,906.98 | |
| Jun, 2048 | 285 | $1,006.74 | $1,184.87 | $2,191.62 | $122,722.11 | |
| Jul, 2048 | 286 | $997.12 | $1,194.50 | $2,191.62 | $121,527.61 | |
| Aug, 2048 | 287 | $987.41 | $1,204.20 | $2,191.62 | $120,323.41 | |
| Sep, 2048 | 288 | $977.63 | $1,213.99 | $2,191.62 | $119,109.42 | |
| Oct, 2048 | 289 | $992.58 | $1,214.02 | $2,206.60 | $117,895.40 | |
| Nov, 2048 | 290 | $982.46 | $1,224.14 | $2,206.60 | $116,671.26 | |
| Dec, 2048 | 291 | $972.26 | $1,234.34 | $2,206.60 | $115,436.92 | |
| Jan, 2049 | 292 | $961.97 | $1,244.63 | $2,206.60 | $114,192.29 | |
| Feb, 2049 | 293 | $951.60 | $1,255.00 | $2,206.60 | $112,937.29 | |
| Mar, 2049 | 294 | $941.14 | $1,265.46 | $2,206.60 | $111,671.83 | |
| Apr, 2049 | 295 | $930.60 | $1,276.00 | $2,206.60 | $110,395.83 | |
| May, 2049 | 296 | $919.97 | $1,286.64 | $2,206.60 | $109,109.19 | |
| Jun, 2049 | 297 | $909.24 | $1,297.36 | $2,206.60 | $107,811.83 | |
| Jul, 2049 | 298 | $898.43 | $1,308.17 | $2,206.60 | $106,503.66 | |
| Aug, 2049 | 299 | $887.53 | $1,319.07 | $2,206.60 | $105,184.59 | |
| Sep, 2049 | 300 | $876.54 | $1,330.06 | $2,206.60 | $103,854.53 | |
| Oct, 2049 | 301 | $887.09 | $1,332.31 | $2,219.40 | $102,522.22 | |
| Nov, 2049 | 302 | $875.71 | $1,343.69 | $2,219.40 | $101,178.53 | |
| Dec, 2049 | 303 | $864.23 | $1,355.17 | $2,219.40 | $99,823.37 | |
| Jan, 2050 | 304 | $852.66 | $1,366.74 | $2,219.40 | $98,456.63 | |
| Feb, 2050 | 305 | $840.98 | $1,378.42 | $2,219.40 | $97,078.21 | |
| Mar, 2050 | 306 | $829.21 | $1,390.19 | $2,219.40 | $95,688.02 | |
| Apr, 2050 | 307 | $817.34 | $1,402.06 | $2,219.40 | $94,285.96 | |
| May, 2050 | 308 | $805.36 | $1,414.04 | $2,219.40 | $92,871.92 | |
| Jun, 2050 | 309 | $793.28 | $1,426.12 | $2,219.40 | $91,445.80 | |
| Jul, 2050 | 310 | $781.10 | $1,438.30 | $2,219.40 | $90,007.50 | |
| Aug, 2050 | 311 | $768.81 | $1,450.58 | $2,219.40 | $88,556.92 | |
| Sep, 2050 | 312 | $756.42 | $1,462.98 | $2,219.40 | $87,093.94 | |
| Oct, 2050 | 313 | $762.07 | $1,467.83 | $2,229.90 | $85,626.12 | |
| Nov, 2050 | 314 | $749.23 | $1,480.67 | $2,229.90 | $84,145.45 | |
| Dec, 2050 | 315 | $736.27 | $1,493.63 | $2,229.90 | $82,651.82 | |
| Jan, 2051 | 316 | $723.20 | $1,506.70 | $2,229.90 | $81,145.12 | |
| Feb, 2051 | 317 | $710.02 | $1,519.88 | $2,229.90 | $79,625.24 | |
| Mar, 2051 | 318 | $696.72 | $1,533.18 | $2,229.90 | $78,092.07 | |
| Apr, 2051 | 319 | $683.31 | $1,546.59 | $2,229.90 | $76,545.47 | |
| May, 2051 | 320 | $669.77 | $1,560.13 | $2,229.90 | $74,985.35 | |
| Jun, 2051 | 321 | $656.12 | $1,573.78 | $2,229.90 | $73,411.57 | |
| Jul, 2051 | 322 | $642.35 | $1,587.55 | $2,229.90 | $71,824.02 | |
| Aug, 2051 | 323 | $628.46 | $1,601.44 | $2,229.90 | $70,222.58 | |
| Sep, 2051 | 324 | $614.45 | $1,615.45 | $2,229.90 | $68,607.13 | |
| Oct, 2051 | 325 | $614.61 | $1,623.39 | $2,238.00 | $66,983.74 | |
| Nov, 2051 | 326 | $600.06 | $1,637.93 | $2,238.00 | $65,345.81 | |
| Dec, 2051 | 327 | $585.39 | $1,652.61 | $2,238.00 | $63,693.20 | |
| Jan, 2052 | 328 | $570.58 | $1,667.41 | $2,238.00 | $62,025.79 | |
| Feb, 2052 | 329 | $555.65 | $1,682.35 | $2,238.00 | $60,343.44 | |
| Mar, 2052 | 330 | $540.58 | $1,697.42 | $2,238.00 | $58,646.02 | |
| Apr, 2052 | 331 | $525.37 | $1,712.63 | $2,238.00 | $56,933.40 | |
| May, 2052 | 332 | $510.03 | $1,727.97 | $2,238.00 | $55,205.43 | |
| Jun, 2052 | 333 | $494.55 | $1,743.45 | $2,238.00 | $53,461.98 | |
| Jul, 2052 | 334 | $478.93 | $1,759.07 | $2,238.00 | $51,702.92 | |
| Aug, 2052 | 335 | $463.17 | $1,774.82 | $2,238.00 | $49,928.09 | |
| Sep, 2052 | 336 | $447.27 | $1,790.72 | $2,238.00 | $48,137.37 | |
| Oct, 2052 | 337 | $441.26 | $1,802.32 | $2,243.58 | $46,335.05 | |
| Nov, 2052 | 338 | $424.74 | $1,818.84 | $2,243.58 | $44,516.21 | |
| Dec, 2052 | 339 | $408.07 | $1,835.51 | $2,243.58 | $42,680.70 | |
| Jan, 2053 | 340 | $391.24 | $1,852.34 | $2,243.58 | $40,828.36 | |
| Feb, 2053 | 341 | $374.26 | $1,869.32 | $2,243.58 | $38,959.04 | |
| Mar, 2053 | 342 | $357.12 | $1,886.45 | $2,243.58 | $37,072.58 | |
| Apr, 2053 | 343 | $339.83 | $1,903.75 | $2,243.58 | $35,168.84 | |
| May, 2053 | 344 | $322.38 | $1,921.20 | $2,243.58 | $33,247.64 | |
| Jun, 2053 | 345 | $304.77 | $1,938.81 | $2,243.58 | $31,308.83 | |
| Jul, 2053 | 346 | $287.00 | $1,956.58 | $2,243.58 | $29,352.25 | |
| Aug, 2053 | 347 | $269.06 | $1,974.52 | $2,243.58 | $27,377.73 | |
| Sep, 2053 | 348 | $250.96 | $1,992.62 | $2,243.58 | $25,385.12 | |
| Oct, 2053 | 349 | $237.99 | $2,008.55 | $2,246.54 | $23,376.56 | |
| Nov, 2053 | 350 | $219.16 | $2,027.38 | $2,246.54 | $21,349.18 | |
| Dec, 2053 | 351 | $200.15 | $2,046.39 | $2,246.54 | $19,302.79 | |
| Jan, 2054 | 352 | $180.96 | $2,065.58 | $2,246.54 | $17,237.21 | |
| Feb, 2054 | 353 | $161.60 | $2,084.94 | $2,246.54 | $15,152.27 | |
| Mar, 2054 | 354 | $142.05 | $2,104.49 | $2,246.54 | $13,047.78 | |
| Apr, 2054 | 355 | $122.32 | $2,124.22 | $2,246.54 | $10,923.56 | |
| May, 2054 | 356 | $102.41 | $2,144.13 | $2,246.54 | $8,779.43 | |
| Jun, 2054 | 357 | $82.31 | $2,164.23 | $2,246.54 | $6,615.20 | |
| Jul, 2054 | 358 | $62.02 | $2,184.52 | $2,246.54 | $4,430.68 | |
| Aug, 2054 | 359 | $41.54 | $2,205.00 | $2,246.54 | $2,225.67 | |
| Sep, 2054 | 360 | $20.87 | $2,225.67 | $2,246.54 | $0.00 | |
What is an ARM mortgage?
An arm mortgage is a home mortgage where the interest rate is not fixed, it is adjustable over time. Usually, an adjustable rate mortgage starts with a lower interest rate than a fixed rate mortgage, and increases after a period of time.
How does an adjustable-rate mortgage work?
A fixed rate mortgage is much more stable and predictable as a borrower pays the same amount every month, whereas an arm mortgage is riskier because the rates go up after a fixed period. If the interest rate goes down in the future, an adjustable rate mortgage may be a cheaper option since you will be paying less. However, if the interest rate goes up in the future, an ARM mortgage is more costly than a fixed rate mortgage. Many borrowers get into trouble after the initial period or in later years when the interest rate hikes and they have to pay a much higher monthly payment than they could afford. Many borrowers got into trouble with ARM loans in 2008, which was one of the reasons along with subprime mortgages that caused the Great Recession.
Types of adjustable rate mortgages
Following are some of the most common types of adjustable rate mortgages. 10/1 ARM - Your APR is fixed for the first 10 years, then adjusts annually for the next 20 years or the remaining of the mortgage. 7/1 ARM - Your APR is fixed for the first 7 years, then adjusts annually for the next 23 years or the remaining of the mortgage. 5/1 ARM - Your APR is fixed for the first 5 years, then adjusts annually for the next 25 years or the remaining of the mortgage. 3/1 ARM - Your APR is fixed for the first 3 years, then adjusts annually for the next 27 years or the remaining of the mortgage.
Is an ARM mortgage a good idea?
There are pros and cons of an ARM mortgage when compared to a mortgage with a fixed rate, you will have to decide for yourself whether or not an ARM mortgage is for you.
Pros of ARM mortgage
- Lower Interest - Lower interest and payment in the first few years where interest rate is low.
- Rate Cap - There usually is a rate cap on how much your mortgage interest rate can increase. This puts a cap on how large your monthly payments could be after the introductory period so that borrowers can evaluate whether or not they can afford it.
- Your Payment Could Decrease - If the interest rate goes down, there is a possibility that your payment could decrease. This could happen if the interest rate lowers the index on which the borrower's ARM is based.
Cons of ARM mortgage
- Riskier - An ARM mortgage is riskier than a fixed-rate mortgage because we can never predict the future and interest rates may go up more than borrowers expected. Borrowers may be surprised to see how much more they have to pay monthly once the lower interest rate period is over. If borrowers cannot afford to pay the large payments that are due in later years, they could lose their homes.
- Hidden Fees - There might be hidden fees or prepayment penalties when dealing with an ARM mortgage. Borrowers should read the fine print of their terms carefully to make sure there are no penalties to pay off the mortgage earlier or refinance their mortgage once the initial introductory period is over.
In general, there are a few situations where getting an ARM makes sense.
- Are you planning to move in a few years?
- If you are not planning to live in the house for the long term, and planning to move in a few years, you can use an AMR mortgage to save on interest payments during the first few years. - Are you planning to pay off the loan after the initial period?
- If you have the budget and can afford to pay off the loan or refinance after the initial period where the interest rate is low, then ARM might be a good idea. But make sure you check with your lender to make sure there are no prepayment penalties in paying off or refinancing.
How to use the ARM mortgage calculator?
Borrowers can use the ARM mortgage to calculate any type of ARM mortgage with an amortization schedule. Mortgage Amount - The size of your ARM mortgage for your home. Loan Terms - The loan terms for your mortgage. 15 and 30 years are the most common terms of a home mortgage. Interest Rate - The initial interest rate for the ARM mortgage. Expected Adjustment - The amount of interest that you can think your interest rate will rise after the initial period. This expected adjustment will be added to your interest rate. First Adjustment After - When will the initial period be over? In other words, after how many years will your interest rate start to rise. For example, a 10/1 ARM mortgage would be 10 years before your first interest adjustment. Months Between Adjustments - How often does your interest rate adjust in months after the initial period. For example, for a 10/1 ARM mortgage, your interest rate will be adjusted every year or 12 months. Interest Rate Cap - Is there a cap on interest rate? What is the maximum interest rate that your mortgage can have? First Payment Date - Choose a date that your first payment will begin. Amortization Schedule - You can choose to view your ARM amortization schedule by month or year.
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