What is an adjustable-rate mortgage (ARM)?

An ARM is a home loan with an interest rate that can change over time, usually starting with a fixed period followed by periodic adjustments.

How does an ARM differ from a fixed-rate mortgage?

An ARM’s interest rate may increase or decrease after the fixed period, while a fixed-rate mortgage keeps the same rate and the same payment throughout the loan.

What factors should I consider before choosing an ARM?

Consider your future income, how long you’ll stay in the home, current interest rate trends, and your comfort with possible payment increases after the initial period.

Can I use this calculator for any ARM type?

Yes, as long as you know your fixed period and expected adjusted rate, you can use this calculator for the most common ARM types, like 5/1 or 7/1 ARMs.

Does the calculator show what my payments will be if rates adjust multiple times?

No, this calculator estimates your payment after the first adjustment using the rate you provide. It doesn’t handle multiple future adjustments or rate caps.

How can I download my results?

After calculating, you can copy your results, export them as a PDF, or download an Excel file for a full payment schedule and details.

Adjustable Rate Mortgage Calculator

Estimate adjustable-rate mortgage payments and totals.

Inputs

Adjustable rate mortgage (U.S.)

Home Price ($)

Down Payment ($)

Initial APR (%)

Loan Term (years, 1–50)

Initial Fixed Period (years, 0–30)

e.g. 5 for 5/1 ARM, 7 for 7/1 ARM

Adjusted APR After Initial Period (%)

Results

Initial vs adjusted payment

Initial Monthly Payment

$1,817

Payment After Adjustment

$2,091

Total Interest

$416,368

Total Payment

$736,368

Balance Over Time

Remaining balance by year (30 years)

Principal vs Interest by Year

All 30 years

Yearly Breakdown

First 15 years. Download full schedule for all 30 years.

Year	Principal	Interest	Balance
1	$4,311	$17,492	$315,689
2	$4,554	$17,249	$311,135
3	$4,811	$16,992	$306,325
4	$5,082	$16,721	$301,243
5	$5,369	$16,434	$295,874
6	$4,526	$20,568	$291,348
7	$4,854	$20,241	$286,494
8	$5,204	$19,890	$281,290
9	$5,581	$19,513	$275,709
10	$5,984	$19,110	$269,725
11	$6,417	$18,677	$263,308
12	$6,880	$18,214	$256,428
13	$7,378	$17,716	$249,050
14	$7,911	$17,183	$241,139
15	$8,483	$16,611	$232,656

Amortization Schedule

First 15 months. Download full schedule for all 360 months.

Month	Payment	Principal	Interest	Balance
1	$1,817	$350	$1,467	$319,650
2	$1,817	$352	$1,465	$319,298
3	$1,817	$353	$1,463	$318,944
4	$1,817	$355	$1,462	$318,589
5	$1,817	$357	$1,460	$318,233
6	$1,817	$358	$1,459	$317,874
7	$1,817	$360	$1,457	$317,514
8	$1,817	$362	$1,455	$317,153
9	$1,817	$363	$1,454	$316,789
10	$1,817	$365	$1,452	$316,424
11	$1,817	$367	$1,450	$316,058
12	$1,817	$368	$1,449	$315,689
13	$1,817	$370	$1,447	$315,319
14	$1,817	$372	$1,445	$314,948
15	$1,817	$373	$1,444	$314,574

For educational and estimation purposes only; not financial or legal advice. Real ARMs have rate caps and indexes; this is a simplified model. Consult a qualified lender.

How It Works

Step 1: Enter Your Loan Details

Loan amount ($): The total amount you plan to borrow.
Down payment ($): The amount you’ll pay upfront. The calculator subtracts this from the loan amount.
Initial interest rate (%): The annual rate for the fixed introductory period (e.g., 5.5%).
Loan term (years): Total length of the mortgage (e.g., 30 years).
Fixed rate period (years): How long the initial rate lasts (e.g., 5 years for a 5/1 ARM).
Adjusted interest rate (%): The rate you expect after the fixed period ends.

Step 2: View Your Results

Initial Monthly Payment: What you’ll pay each month during the introductory fixed-rate period.
Payment After Adjustment: Estimated monthly payment once the interest rate changes.
Total Interest: The total interest you’ll pay over the entire loan term.
Total Payment: Your total cost (principal + interest) for the life of the loan.

Step 3: Explore Visual Breakdowns

Balance Over Time Chart: Track your remaining loan balance each year for up to 30 years.
Principal vs. Interest by Year: See how much of each year’s payment goes toward principal versus interest.
Yearly Breakdown Table: Review annual principal, interest paid, and remaining balance for the first 15 years (with a downloadable full schedule for all 30 years).
Amortization Schedule: Examine the first 15 months in detail, breaking down each payment.

Step 4: Use Additional Features

Copy: Copy your results for sharing or recordkeeping.

Export PDF/Export Excel: Download your full payment schedule and results for more in-depth analysis or to discuss with lenders.

Understanding Adjustable Rate Mortgages

An adjustable-rate mortgage (ARM) is a type of home loan where the interest rate can change over time. Typically, ARMs start with a fixed interest rate for a set number of years, often 5, 7, or 10, then adjust periodically based on current market rates. This means your monthly payments might go up or down after the initial fixed period.

Many homebuyers consider ARMs because they offer lower initial payments than fixed-rate mortgages.

However, because the rate can rise after the introductory phase, it’s important to understand how your payments and total costs could change in the future. This calculator helps you see those changes clearly before you commit.

How This Calculator Helps

This Adjustable Rate Mortgage Calculator is designed for people who want to understand both the short-term and long-term costs of an ARM. By entering your loan details such as loan amount, down payment, initial interest rate, loan term, fixed-rate period, and expected adjusted rate, you’ll see:

Your initial monthly payment during the fixed-rate period
Your estimated payment after the rate adjusts
The total interest paid over the life of the loan
The total amount you’ll pay, including both principal and interest

Visual charts and yearly/monthly breakdowns make it easier to compare your initial and adjusted payments and view how your loan balance changes over time.