Fixed or Adjustable Rate?

If you are trying to decide between a fixed-rate and adjustable-rate loan, the following calculator can help. Enter the details of each loan below, and the calculator will compute the interest paid, total amount paid, and remaining loan balance at the end of the time you expect to live in your home.

NOTE: The "best-case" scenario assumes that the interest rate remains at the initial adjustable interest rate for the life of the loan. The "worst-case" scenario assumes that the interest rate increases the maximum allowed at every opportunity until it reaches the lifetime cap.