Variable Interest Rate Mortgage Calculator. Use our adjustable rate mortgage ARM calculator to see how interest rate assumptions will impact your monthly payments and the total interest paid over the life of the loan. We have taken the average house prices for each quarter since 1996 and actual mortgage lending rates for a mix of different mortgage types in the same time period.
Compare rates from a range of lenders to find the best selection based on your requirements. Use this calculator to figure your expected monthly payments before and after the reset period. Thinking of getting a variable rate loan.
If you know the rough interest rate you will be charged on a loan then you can easily use the above calculator to figure out how much home you can afford.
The calculator will then show the balance of the loan given the initial loan amount the interest rate and the variable payments made each month. Use this calculator to figure your expected monthly payments before and after the reset period. The term which is five years in the case of a 5-year variable mortgage is the length of time you are committed to a variable type rate and sometimes the mortgage payments. Adjustable rate mortgage calculator Unlike fixed rate mortgages the payments on an adjustable rate mortgage will vary as interest rates change.