The Best Mortgage Calculators On the Web!
Please try my Java loan and mortgage calculators. They take a minute to load, but they are worth it! Each calculator has dynamic graphs and charts that change - right before your eyes - as you enter different information. Each financial calculator also includes a View Report option. The mortgage repayment schedule and other reports are fully customizable. These reports are designed for you to print out and keep...
Adjustable Rate
Mortgages
Adjustable rate mortgages can
provide attractive interest rates, but your payment is not fixed. This
calculator helps you to determine what your adjustable mortgage payments may
be.
Definitions
-
Mortgage amount
Original or
expected balance for your mortgage.
-
Starting interest rate
Initial
annual interest rate for this mortgage.
-
Term in years
The number of
years over which you will repay this loan. The most common mortgage terms are
15 years and 30 years.
-
Interest rate cap
This is the
highest interest rate allowed by your mortgage. Your actual interest rate will
not be adjusted above this rate.
-
Expected Adjustment
The amount
you believe that your mortgage's interest rate will change. This amount will be
added to or subtracted from your interest rate.
-
Months between adjustments
The
number of payment periods between potential adjustments to your interest rate.
The most common is 12 months, which means your payment could change at most
once per year.
-
Starting monthly
payment
Monthly principal and interest payment (PI) based on your
beginning balance and starting interest rate.
-
Total payments
Total of all
monthly payments over the full term of the mortgage. This total payment amount
assumes that there are no prepayments of principal.
-
Total interest
Total of all
interest paid over the full term of the mortgage. This total interest amount
assumes that there are no prepayments of principal.
Information and interactive calculators are
made available to you as self-help tools for your independent use. We cannot
and do not guarantee their accuracy or their applicability to your
circumstances. We encourage you to seek personalized advice from qualified
professionals regarding all personal finance issues. |
