ARM vs. Fixed-Rate Mortgage
Compare adjustable-rate mortgages with fixed-rate mortgages to determine which option is better for you.
Loan Details
$
30 years
15 years30 years
Fixed-Rate Mortgage
%
Adjustable-Rate Mortgage (ARM)
%
5 years
1 years10 years
%
Fixed-Rate Results
Monthly Payment$1,896.20
Total Interest$382,633.47
Total Payment$682,633.47
ARM Results
Initial Payment$1,703.37
Adjusted Payment$2,049.83
Total Interest$417,150.15
Total Payment$717,150.15
Comparison
ARM Costs More$34,516.69