Fixed Rate vs. ARM
See the difference between a fixed rate and arm
This tool allows you to compare the monthly payment for Fixed Rate Mortgage and an Adjustable Rate Mortgage (ARM).
|Fixed Rate Mortgage|
|Adjustable Rate Mortgage|
|Initial Monthly Payment||$0.00|
|Maximum Monthly Payment||$0.00|
The maximum monthly payment is only an estimate. The estimate is based upon the specified maximum interest rate and the estimated adjustments over the term of the loan.