5/1 ARM - Example

A 5/1 ARM generally refers to an adjustable rate mortgage with an interest rate that is fixed for 5 years and that adjusts annually after that.

In this example, we look at a 5/1 ARM for \$250,000 with a starting interest rate of 6.75%. It has a 2% cap on each adjustment. It has no floor rate and a lifetime maximum interest rate of 11.75%. The index and margin are 5.2% and 1.55% respectively.

After reviewing this example enter your adjustable rate mortgage into the ARM Calculator or explore the other examples.

If the index rate remains stable over the life of the loan you would end up paying \$333,734 in interest.
Stable
MonthInterest
Rate
Index
Rate
Payment Interest Principal Balance
16.750%5.200%\$1,622\$1,406\$215\$249,785
26.750%5.200%\$1,622\$1,405\$216\$249,568
36.750%5.200%\$1,622\$1,404\$218\$249,351
46.750%5.200%\$1,622\$1,403\$219\$249,132
56.750%5.200%\$1,622\$1,401\$220\$248,912
66.750%5.200%\$1,622\$1,400\$221\$248,690
76.750%5.200%\$1,622\$1,399\$223\$248,468
86.750%5.200%\$1,622\$1,398\$224\$248,244
96.750%5.200%\$1,622\$1,396\$225\$248,019
106.750%5.200%\$1,622\$1,395\$226\$247,792
116.750%5.200%\$1,622\$1,394\$228\$247,565
126.750%5.200%\$1,622\$1,393\$229\$247,336
Year 1  \$19,458\$16,794\$2,664
136.750%5.200%\$1,622\$1,391\$230\$247,105
146.750%5.200%\$1,622\$1,390\$232\$246,874
156.750%5.200%\$1,622\$1,389\$233\$246,641
166.750%5.200%\$1,622\$1,387\$234\$246,407
176.750%5.200%\$1,622\$1,386\$235\$246,171
186.750%5.200%\$1,622\$1,385\$237\$245,935
196.750%5.200%\$1,622\$1,383\$238\$245,696
206.750%5.200%\$1,622\$1,382\$239\$245,457
216.750%5.200%\$1,622\$1,381\$241\$245,216
226.750%5.200%\$1,622\$1,379\$242\$244,974
236.750%5.200%\$1,622\$1,378\$244\$244,731
246.750%5.200%\$1,622\$1,377\$245\$244,486
Year 2  \$19,458\$16,608\$2,850
256.750%5.200%\$1,622\$1,375\$246\$244,239
266.750%5.200%\$1,622\$1,374\$248\$243,992
276.750%5.200%\$1,622\$1,372\$249\$243,743
286.750%5.200%\$1,622\$1,371\$250\$243,492
296.750%5.200%\$1,622\$1,370\$252\$243,240
306.750%5.200%\$1,622\$1,368\$253\$242,987
316.750%5.200%\$1,622\$1,367\$255\$242,732
326.750%5.200%\$1,622\$1,365\$256\$242,476
336.750%5.200%\$1,622\$1,364\$258\$242,219
346.750%5.200%\$1,622\$1,362\$259\$241,960
356.750%5.200%\$1,622\$1,361\$260\$241,699
366.750%5.200%\$1,622\$1,360\$262\$241,437
Year 3  \$19,458\$16,410\$3,048
376.750%5.200%\$1,622\$1,358\$263\$241,174
386.750%5.200%\$1,622\$1,357\$265\$240,909
396.750%5.200%\$1,622\$1,355\$266\$240,643
406.750%5.200%\$1,622\$1,354\$268\$240,375
416.750%5.200%\$1,622\$1,352\$269\$240,105
426.750%5.200%\$1,622\$1,351\$271\$239,834
436.750%5.200%\$1,622\$1,349\$272\$239,562
446.750%5.200%\$1,622\$1,348\$274\$239,288
456.750%5.200%\$1,622\$1,346\$276\$239,012
466.750%5.200%\$1,622\$1,344\$277\$238,735
476.750%5.200%\$1,622\$1,343\$279\$238,457
486.750%5.200%\$1,622\$1,341\$280\$238,177
Year 4  \$19,458\$16,197\$3,261
496.750%5.200%\$1,622\$1,340\$282\$237,895
506.750%5.200%\$1,622\$1,338\$283\$237,611
516.750%5.200%\$1,622\$1,337\$285\$237,327
526.750%5.200%\$1,622\$1,335\$287\$237,040
536.750%5.200%\$1,622\$1,333\$288\$236,752
546.750%5.200%\$1,622\$1,332\$290\$236,462
556.750%5.200%\$1,622\$1,330\$291\$236,171
566.750%5.200%\$1,622\$1,328\$293\$235,878
576.750%5.200%\$1,622\$1,327\$295\$235,583
586.750%5.200%\$1,622\$1,325\$296\$235,287
596.750%5.200%\$1,622\$1,323\$298\$234,989
606.750%5.200%\$1,622\$1,322\$300\$234,689
Year 5  \$19,458\$15,970\$3,488
616.750%5.200%\$1,622\$1,320\$301\$234,388
626.750%5.200%\$1,622\$1,318\$303\$234,084
636.750%5.200%\$1,622\$1,317\$305\$233,780
646.750%5.200%\$1,622\$1,315\$306\$233,473
656.750%5.200%\$1,622\$1,313\$308\$233,165
666.750%5.200%\$1,622\$1,312\$310\$232,855
676.750%5.200%\$1,622\$1,310\$312\$232,543
686.750%5.200%\$1,622\$1,308\$313\$232,230
696.750%5.200%\$1,622\$1,306\$315\$231,915
706.750%5.200%\$1,622\$1,305\$317\$231,598
716.750%5.200%\$1,622\$1,303\$319\$231,279
726.750%5.200%\$1,622\$1,301\$321\$230,958
Year 6  \$19,458\$15,728\$3,731
736.750%5.200%\$1,622\$1,299\$322\$230,636
746.750%5.200%\$1,622\$1,297\$324\$230,312
756.750%5.200%\$1,622\$1,296\$326\$229,986
766.750%5.200%\$1,622\$1,294\$328\$229,658
776.750%5.200%\$1,622\$1,292\$330\$229,328
786.750%5.200%\$1,622\$1,290\$332\$228,997
796.750%5.200%\$1,622\$1,288\$333\$228,663
806.750%5.200%\$1,622\$1,286\$335\$228,328
816.750%5.200%\$1,622\$1,284\$337\$227,991
826.750%5.200%\$1,622\$1,282\$339\$227,652
836.750%5.200%\$1,622\$1,281\$341\$227,311
846.750%5.200%\$1,622\$1,279\$343\$226,968
Year 7  \$19,458\$15,468\$3,990
856.750%5.200%\$1,622\$1,277\$345\$226,623
866.750%5.200%\$1,622\$1,275\$347\$226,277
876.750%5.200%\$1,622\$1,273\$349\$225,928
886.750%5.200%\$1,622\$1,271\$351\$225,577
896.750%5.200%\$1,622\$1,269\$353\$225,225
906.750%5.200%\$1,622\$1,267\$355\$224,870
916.750%5.200%\$1,622\$1,265\$357\$224,513
926.750%5.200%\$1,622\$1,263\$359\$224,155
936.750%5.200%\$1,622\$1,261\$361\$223,794
946.750%5.200%\$1,622\$1,259\$363\$223,432
956.750%5.200%\$1,622\$1,257\$365\$223,067
966.750%5.200%\$1,622\$1,255\$367\$222,700
Year 8  \$19,458\$15,190\$4,268
976.750%5.200%\$1,622\$1,253\$369\$222,331
986.750%5.200%\$1,622\$1,251\$371\$221,960
996.750%5.200%\$1,622\$1,249\$373\$221,587
1006.750%5.200%\$1,622\$1,246\$375\$221,212
1016.750%5.200%\$1,622\$1,244\$377\$220,835
1026.750%5.200%\$1,622\$1,242\$379\$220,456
1036.750%5.200%\$1,622\$1,240\$381\$220,074
1046.750%5.200%\$1,622\$1,238\$384\$219,691
1056.750%5.200%\$1,622\$1,236\$386\$219,305
1066.750%5.200%\$1,622\$1,234\$388\$218,917
1076.750%5.200%\$1,622\$1,231\$390\$218,527
1086.750%5.200%\$1,622\$1,229\$392\$218,135
Year 9  \$19,458\$14,893\$4,565
1096.750%5.200%\$1,622\$1,227\$394\$217,740
1106.750%5.200%\$1,622\$1,225\$397\$217,344
1116.750%5.200%\$1,622\$1,223\$399\$216,945
1126.750%5.200%\$1,622\$1,220\$401\$216,543
1136.750%5.200%\$1,622\$1,218\$403\$216,140
1146.750%5.200%\$1,622\$1,216\$406\$215,734
1156.750%5.200%\$1,622\$1,214\$408\$215,326
1166.750%5.200%\$1,622\$1,211\$410\$214,916
1176.750%5.200%\$1,622\$1,209\$413\$214,503
1186.750%5.200%\$1,622\$1,207\$415\$214,089
1196.750%5.200%\$1,622\$1,204\$417\$213,671
1206.750%5.200%\$1,622\$1,202\$420\$213,252
Year 10  \$19,458\$14,575\$4,883
1216.750%5.200%\$1,622\$1,200\$422\$212,830
1226.750%5.200%\$1,622\$1,197\$424\$212,405
1236.750%5.200%\$1,622\$1,195\$427\$211,979
1246.750%5.200%\$1,622\$1,192\$429\$211,550
1256.750%5.200%\$1,622\$1,190\$432\$211,118
1266.750%5.200%\$1,622\$1,188\$434\$210,684
1276.750%5.200%\$1,622\$1,185\$436\$210,248
1286.750%5.200%\$1,622\$1,183\$439\$209,809
1296.750%5.200%\$1,622\$1,180\$441\$209,367
1306.750%5.200%\$1,622\$1,178\$444\$208,924
1316.750%5.200%\$1,622\$1,175\$446\$208,477
1326.750%5.200%\$1,622\$1,173\$449\$208,029
Year 11  \$19,458\$14,235\$5,223
1336.750%5.200%\$1,622\$1,170\$451\$207,577
1346.750%5.200%\$1,622\$1,168\$454\$207,123
1356.750%5.200%\$1,622\$1,165\$456\$206,667
1366.750%5.200%\$1,622\$1,162\$459\$206,208
1376.750%5.200%\$1,622\$1,160\$462\$205,746
1386.750%5.200%\$1,622\$1,157\$464\$205,282
1396.750%5.200%\$1,622\$1,155\$467\$204,815
1406.750%5.200%\$1,622\$1,152\$469\$204,346
1416.750%5.200%\$1,622\$1,149\$472\$203,874
1426.750%5.200%\$1,622\$1,147\$475\$203,399
1436.750%5.200%\$1,622\$1,144\$477\$202,922
1446.750%5.200%\$1,622\$1,141\$480\$202,442
Year 12  \$19,458\$13,871\$5,587
1456.750%5.200%\$1,622\$1,139\$483\$201,959
1466.750%5.200%\$1,622\$1,136\$485\$201,473
1476.750%5.200%\$1,622\$1,133\$488\$200,985
1486.750%5.200%\$1,622\$1,131\$491\$200,494
1496.750%5.200%\$1,622\$1,128\$494\$200,001
1506.750%5.200%\$1,622\$1,125\$496\$199,504
1516.750%5.200%\$1,622\$1,122\$499\$199,005
1526.750%5.200%\$1,622\$1,119\$502\$198,503
1536.750%5.200%\$1,622\$1,117\$505\$197,998
1546.750%5.200%\$1,622\$1,114\$508\$197,490
1556.750%5.200%\$1,622\$1,111\$511\$196,979
1566.750%5.200%\$1,622\$1,108\$513\$196,466
Year 13  \$19,458\$13,482\$5,976
1576.750%5.200%\$1,622\$1,105\$516\$195,950
1586.750%5.200%\$1,622\$1,102\$519\$195,430
1596.750%5.200%\$1,622\$1,099\$522\$194,908
1606.750%5.200%\$1,622\$1,096\$525\$194,383
1616.750%5.200%\$1,622\$1,093\$528\$193,855
1626.750%5.200%\$1,622\$1,090\$531\$193,324
1636.750%5.200%\$1,622\$1,087\$534\$192,790
1646.750%5.200%\$1,622\$1,084\$537\$192,253
1656.750%5.200%\$1,622\$1,081\$540\$191,713
1666.750%5.200%\$1,622\$1,078\$543\$191,169
1676.750%5.200%\$1,622\$1,075\$546\$190,623
1686.750%5.200%\$1,622\$1,072\$549\$190,074
Year 14  \$19,458\$13,066\$6,392
1696.750%5.200%\$1,622\$1,069\$552\$189,522
1706.750%5.200%\$1,622\$1,066\$555\$188,966
1716.750%5.200%\$1,622\$1,063\$559\$188,408
1726.750%5.200%\$1,622\$1,060\$562\$187,846
1736.750%5.200%\$1,622\$1,057\$565\$187,281
1746.750%5.200%\$1,622\$1,053\$568\$186,713
1756.750%5.200%\$1,622\$1,050\$571\$186,142
1766.750%5.200%\$1,622\$1,047\$574\$185,567
1776.750%5.200%\$1,622\$1,044\$578\$184,990
1786.750%5.200%\$1,622\$1,041\$581\$184,409
1796.750%5.200%\$1,622\$1,037\$584\$183,825
1806.750%5.200%\$1,622\$1,034\$587\$183,237
Year 15  \$19,458\$12,621\$6,837
1816.750%5.200%\$1,622\$1,031\$591\$182,646
1826.750%5.200%\$1,622\$1,027\$594\$182,052
1836.750%5.200%\$1,622\$1,024\$597\$181,455
1846.750%5.200%\$1,622\$1,021\$601\$180,854
1856.750%5.200%\$1,622\$1,017\$604\$180,250
1866.750%5.200%\$1,622\$1,014\$608\$179,642
1876.750%5.200%\$1,622\$1,010\$611\$179,031
1886.750%5.200%\$1,622\$1,007\$614\$178,417
1896.750%5.200%\$1,622\$1,004\$618\$177,799
1906.750%5.200%\$1,622\$1,000\$621\$177,177
1916.750%5.200%\$1,622\$997\$625\$176,552
1926.750%5.200%\$1,622\$993\$628\$175,924
Year 16  \$19,458\$12,145\$7,313
1936.750%5.200%\$1,622\$990\$632\$175,292
1946.750%5.200%\$1,622\$986\$635\$174,657
1956.750%5.200%\$1,622\$982\$639\$174,018
1966.750%5.200%\$1,622\$979\$643\$173,375
1976.750%5.200%\$1,622\$975\$646\$172,729
1986.750%5.200%\$1,622\$972\$650\$172,079
1996.750%5.200%\$1,622\$968\$654\$171,425
2006.750%5.200%\$1,622\$964\$657\$170,768
2016.750%5.200%\$1,622\$961\$661\$170,107
2026.750%5.200%\$1,622\$957\$665\$169,442
2036.750%5.200%\$1,622\$953\$668\$168,774
2046.750%5.200%\$1,622\$949\$672\$168,102
Year 17  \$19,458\$11,636\$7,822
2056.750%5.200%\$1,622\$946\$676\$167,426
2066.750%5.200%\$1,622\$942\$680\$166,746
2076.750%5.200%\$1,622\$938\$684\$166,063
2086.750%5.200%\$1,622\$934\$687\$165,375
2096.750%5.200%\$1,622\$930\$691\$164,684
2106.750%5.200%\$1,622\$926\$695\$163,989
2116.750%5.200%\$1,622\$922\$699\$163,290
2126.750%5.200%\$1,622\$919\$703\$162,587
2136.750%5.200%\$1,622\$915\$707\$161,880
2146.750%5.200%\$1,622\$911\$711\$161,169
2156.750%5.200%\$1,622\$907\$715\$160,454
2166.750%5.200%\$1,622\$903\$719\$159,735
Year 18  \$19,458\$11,091\$8,367
2176.750%5.200%\$1,622\$899\$723\$159,012
2186.750%5.200%\$1,622\$894\$727\$158,285
2196.750%5.200%\$1,622\$890\$731\$157,554
2206.750%5.200%\$1,622\$886\$735\$156,819
2216.750%5.200%\$1,622\$882\$739\$156,079
2226.750%5.200%\$1,622\$878\$744\$155,336
2236.750%5.200%\$1,622\$874\$748\$154,588
2246.750%5.200%\$1,622\$870\$752\$153,836
2256.750%5.200%\$1,622\$865\$756\$153,080
2266.750%5.200%\$1,622\$861\$760\$152,319
2276.750%5.200%\$1,622\$857\$765\$151,555
2286.750%5.200%\$1,622\$852\$769\$150,786
Year 19  \$19,458\$10,509\$8,949
2296.750%5.200%\$1,622\$848\$773\$150,012
2306.750%5.200%\$1,622\$844\$778\$149,235
2316.750%5.200%\$1,622\$839\$782\$148,453
2326.750%5.200%\$1,622\$835\$786\$147,666
2336.750%5.200%\$1,622\$831\$791\$146,875
2346.750%5.200%\$1,622\$826\$795\$146,080
2356.750%5.200%\$1,622\$822\$800\$145,280
2366.750%5.200%\$1,622\$817\$804\$144,476
2376.750%5.200%\$1,622\$813\$809\$143,667
2386.750%5.200%\$1,622\$808\$813\$142,854
2396.750%5.200%\$1,622\$804\$818\$142,036
2406.750%5.200%\$1,622\$799\$823\$141,213
Year 20  \$19,458\$9,885\$9,573
2416.750%5.200%\$1,622\$794\$827\$140,386
2426.750%5.200%\$1,622\$790\$832\$139,554
2436.750%5.200%\$1,622\$785\$837\$138,718
2446.750%5.200%\$1,622\$780\$841\$137,876
2456.750%5.200%\$1,622\$776\$846\$137,030
2466.750%5.200%\$1,622\$771\$851\$136,180
2476.750%5.200%\$1,622\$766\$855\$135,324
2486.750%5.200%\$1,622\$761\$860\$134,464
2496.750%5.200%\$1,622\$756\$865\$133,599
2506.750%5.200%\$1,622\$751\$870\$132,729
2516.750%5.200%\$1,622\$747\$875\$131,854
2526.750%5.200%\$1,622\$742\$880\$130,974
Year 21  \$19,458\$9,219\$10,239
2536.750%5.200%\$1,622\$737\$885\$130,089
2546.750%5.200%\$1,622\$732\$890\$129,200
2556.750%5.200%\$1,622\$727\$895\$128,305
2566.750%5.200%\$1,622\$722\$900\$127,405
2576.750%5.200%\$1,622\$717\$905\$126,500
2586.750%5.200%\$1,622\$712\$910\$125,590
2596.750%5.200%\$1,622\$706\$915\$124,675
2606.750%5.200%\$1,622\$701\$920\$123,755
2616.750%5.200%\$1,622\$696\$925\$122,830
2626.750%5.200%\$1,622\$691\$931\$121,899
2636.750%5.200%\$1,622\$686\$936\$120,963
2646.750%5.200%\$1,622\$680\$941\$120,022
Year 22  \$19,458\$8,506\$10,952
2656.750%5.200%\$1,622\$675\$946\$119,076
2666.750%5.200%\$1,622\$670\$952\$118,124
2676.750%5.200%\$1,622\$664\$957\$117,167
2686.750%5.200%\$1,622\$659\$962\$116,205
2696.750%5.200%\$1,622\$654\$968\$115,237
2706.750%5.200%\$1,622\$648\$973\$114,263
2716.750%5.200%\$1,622\$643\$979\$113,285
2726.750%5.200%\$1,622\$637\$984\$112,300
2736.750%5.200%\$1,622\$632\$990\$111,311
2746.750%5.200%\$1,622\$626\$995\$110,315
2756.750%5.200%\$1,622\$621\$1,001\$109,314
2766.750%5.200%\$1,622\$615\$1,007\$108,308
Year 23  \$19,458\$7,743\$11,715
2776.750%5.200%\$1,622\$609\$1,012\$107,295
2786.750%5.200%\$1,622\$604\$1,018\$106,277
2796.750%5.200%\$1,622\$598\$1,024\$105,254
2806.750%5.200%\$1,622\$592\$1,029\$104,224
2816.750%5.200%\$1,622\$586\$1,035\$103,189
2826.750%5.200%\$1,622\$580\$1,041\$102,148
2836.750%5.200%\$1,622\$575\$1,047\$101,101
2846.750%5.200%\$1,622\$569\$1,053\$100,048
2856.750%5.200%\$1,622\$563\$1,059\$98,989
2866.750%5.200%\$1,622\$557\$1,065\$97,925
2876.750%5.200%\$1,622\$551\$1,071\$96,854
2886.750%5.200%\$1,622\$545\$1,077\$95,777
Year 24  \$19,458\$6,928\$12,530
2896.750%5.200%\$1,622\$539\$1,083\$94,695
2906.750%5.200%\$1,622\$533\$1,089\$93,606
2916.750%5.200%\$1,622\$527\$1,095\$92,511
2926.750%5.200%\$1,622\$520\$1,101\$91,410
2936.750%5.200%\$1,622\$514\$1,107\$90,302
2946.750%5.200%\$1,622\$508\$1,114\$89,189
2956.750%5.200%\$1,622\$502\$1,120\$88,069
2966.750%5.200%\$1,622\$495\$1,126\$86,943
2976.750%5.200%\$1,622\$489\$1,132\$85,810
2986.750%5.200%\$1,622\$483\$1,139\$84,672
2996.750%5.200%\$1,622\$476\$1,145\$83,526
3006.750%5.200%\$1,622\$470\$1,152\$82,375
Year 25  \$19,458\$6,055\$13,403
3016.750%5.200%\$1,622\$463\$1,158\$81,217
3026.750%5.200%\$1,622\$457\$1,165\$80,052
3036.750%5.200%\$1,622\$450\$1,171\$78,881
3046.750%5.200%\$1,622\$444\$1,178\$77,703
3056.750%5.200%\$1,622\$437\$1,184\$76,519
3066.750%5.200%\$1,622\$430\$1,191\$75,327
3076.750%5.200%\$1,622\$424\$1,198\$74,130
3086.750%5.200%\$1,622\$417\$1,205\$72,925
3096.750%5.200%\$1,622\$410\$1,211\$71,714
3106.750%5.200%\$1,622\$403\$1,218\$70,496
3116.750%5.200%\$1,622\$397\$1,225\$69,271
3126.750%5.200%\$1,622\$390\$1,232\$68,039
Year 26  \$19,458\$5,122\$14,336
3136.750%5.200%\$1,622\$383\$1,239\$66,800
3146.750%5.200%\$1,622\$376\$1,246\$65,554
3156.750%5.200%\$1,622\$369\$1,253\$64,302
3166.750%5.200%\$1,622\$362\$1,260\$63,042
3176.750%5.200%\$1,622\$355\$1,267\$61,775
3186.750%5.200%\$1,622\$347\$1,274\$60,501
3196.750%5.200%\$1,622\$340\$1,281\$59,220
3206.750%5.200%\$1,622\$333\$1,288\$57,931
3216.750%5.200%\$1,622\$326\$1,296\$56,636
3226.750%5.200%\$1,622\$319\$1,303\$55,333
3236.750%5.200%\$1,622\$311\$1,310\$54,023
3246.750%5.200%\$1,622\$304\$1,318\$52,705
Year 27  \$19,458\$4,124\$15,334
3256.750%5.200%\$1,622\$296\$1,325\$51,380
3266.750%5.200%\$1,622\$289\$1,332\$50,047
3276.750%5.200%\$1,622\$282\$1,340\$48,707
3286.750%5.200%\$1,622\$274\$1,348\$47,360
3296.750%5.200%\$1,622\$266\$1,355\$46,005
3306.750%5.200%\$1,622\$259\$1,363\$44,642
3316.750%5.200%\$1,622\$251\$1,370\$43,272
3326.750%5.200%\$1,622\$243\$1,378\$41,894
3336.750%5.200%\$1,622\$236\$1,386\$40,508
3346.750%5.200%\$1,622\$228\$1,394\$39,114
3356.750%5.200%\$1,622\$220\$1,401\$37,713
3366.750%5.200%\$1,622\$212\$1,409\$36,303
Year 28  \$19,458\$3,056\$16,402
3376.750%5.200%\$1,622\$204\$1,417\$34,886
3386.750%5.200%\$1,622\$196\$1,425\$33,461
3396.750%5.200%\$1,622\$188\$1,433\$32,027
3406.750%5.200%\$1,622\$180\$1,441\$30,586
3416.750%5.200%\$1,622\$172\$1,449\$29,137
3426.750%5.200%\$1,622\$164\$1,458\$27,679
3436.750%5.200%\$1,622\$156\$1,466\$26,213
3446.750%5.200%\$1,622\$147\$1,474\$24,739
3456.750%5.200%\$1,622\$139\$1,482\$23,257
3466.750%5.200%\$1,622\$131\$1,491\$21,766
3476.750%5.200%\$1,622\$122\$1,499\$20,267
3486.750%5.200%\$1,622\$114\$1,508\$18,760
Year 29  \$19,458\$1,914\$17,544
3496.750%5.200%\$1,622\$106\$1,516\$17,244
3506.750%5.200%\$1,622\$97\$1,524\$15,719
3516.750%5.200%\$1,622\$88\$1,533\$14,186
3526.750%5.200%\$1,622\$80\$1,542\$12,644
3536.750%5.200%\$1,622\$71\$1,550\$11,094
3546.750%5.200%\$1,622\$62\$1,559\$9,535
3556.750%5.200%\$1,622\$54\$1,568\$7,967
3566.750%5.200%\$1,622\$45\$1,577\$6,390
3576.750%5.200%\$1,622\$36\$1,586\$4,805
3586.750%5.200%\$1,622\$27\$1,594\$3,210
3596.750%5.200%\$1,622\$18\$1,603\$1,607
3606.750%5.200%\$1,616\$9\$1,607\$0
Year 30  \$19,452\$693\$18,760
Grand
Total
\$583,734 \$333,734 \$250,000

Mortgage Calculator - Help

Amortization Schedule
The amortization schedule show you how monthly principal and interest payment and principal balances change over the life of your loan.
Floor Rate
Floor rate is the minimum interest rate for an adjustable rate mortgage (ARM).
Index Rate
Rate Adjustment on ARMs are based on the index rate, the margin, the adjustment schedule, interest rate caps, and floor rate specified in your loan documents. Index rates change over time. They should be published and widely available. Common indexes used for setting mortgage rates have include the Prime Rate, Libor (London Interbank Offer Rate) and U.S. Treasury Rates.
Interest
The portion of your mortgage payment that is due to the interest rate being applied to the principal balance. The Total Interest for a mortgage is the sum of all interest paid over the life of a loan.
The interest rate changes on an adjustable rate mortage (ARM) during adjustment periods specified in your loan documents. Your interest rate may have a fixed period where it does not change followed by adjustements on a regularly scheduled basis. For example, the interest rate on a mortgage could be fixed for 2 years followed by adjustments every 6 months.
Interest Rate Caps
Limits how much your interest rate can be increased during each adjustment period for an ARM. The cap for the first adjustment period may be different than the cap on subsequent adjustments. There also may be a maximim overall cap on interest rate increases during the life of your loan.
Interest Rate Scenarios
To decide if an adjustable rate mortgage is right for you, you should how changes in interest rates will effect the mortgage. The adjustable rate mortgage calculator shows you how your payment changes in the best case where rates are set at the minimum for your mortgage, the worst case where rates are set at the maximum for your mortgage, and the stable case where rates remain constant for your mortgage.
Loan Amount
The initial principal balance or your mortgage at closing.
Margin
When an ARM adjusts the margin is added to the index rate to help determine your interest rate. Interest rate caps and the floor rate for your mortgage may limit how much your actual interest rate changes. The margin typically is fixed for the life of the loan. It should be clearly specified in your loan documents.
Payment Shock
Occurs when the required minimum payment for a mortgage increases significantly. This can occur on adjustable rate mortgage when interest rates rise sharply, on interest-only mortgages when the interest-only period ends, and on balloon mortgages when the balloon payment is due.
Principal
The portion of your mortgage payment that is used to pay down the current balance of your mortgage. The principal balance represents how much you owe on the mortgage.
Start Rate
The initial interest rate on an Adjustable Rate Mortgage.
Term
The amortization term is one of the key factors that determine your required mortgage payment. Your required mortgage payment for fully amortizing mortgages is the amount that would result in the mortgage being closest to being paid off by the end of the amortization term. Longer amortization terms result in lower required mortgage payments for fully amortizating mortgages, all other things being equal.