Compare Payments on Fixed and Adjustable Rate Loans
Here’s a tool that will help you to compare the total monthly payment on fixed rate and adjustable rate (fully amortizing and interest-only) loans for a specific time period. You can also figure out the total interest and maximum monthly payment payable on an FRM and ARM.
Loan Information
Mortgage Amount ($)
Loan Period
Expected Rate Adjustment (%)
Fixed Rate Mortgage
Mortgage Rate (% per annum)
Fully Amortized Adjustable Rate Mortgage
Initial Mortgage Rate (% per annum)
Months before First Rate Adjustment
Interest Rate Cap (%)
Interest-Only Adjustable Rate Mortgage
Initial Mortgage Rate (%)
Months Before First Rate Adjustment
Interest Rate Cap (%)
Compare Payments
  Fixed ARM Interest-Only ARM
Initial Monthly Payment
Maximum Monthly Payment
Total Payments
Total interest
Note: Monthly Payment includes monthly principal and monthly interest only.