Compare Fixed Rate vs. Adjustable Rate Loan
The answer usually depends on how long you plan to stay in the house. Generally, an adjustable rate loan saves you money up front (lower interest rate) but may cost more in the long-term.
What will be the amount of your new loan?
$
What combinations would you like to compare?
Use up to 3 decimal places (2.125)
Fixed Rate
Adjustable Rate
Rate
%
Rate
%
Points
Points
Term
30 years
20 years
15 years
10 years
Term
30 years
20 years
15 years
10 years
Months Before First Adjustment
Short Term Monthly Savings/(Loss)
How do your monthly payments compare for the first
12 months
?
Fixed Rate
Adjustable Rate
Savings/Loss
Monthly Payment
for first 12 months
Long-Term; Time in this House
What does your financial picture look like in
12 months
?
Fixed Rate
Adjustable Rate
Long-Term
Savings/Loss
Total Payments
+ Closing Costs
+ Payoff Amount
= Total Cost