Fixed vs. Adjustable Rate CalculatorWhen you're confronting a mortgage decision, small rate changes can have a big impact on how much house you can afford, or even if you can afford to buy a house at all.
Use this calculator to help you understand the risks of an adjustable-rate mortgage. This will show you the worst-case scenario on costs of an adjustable-rate mortgage based on the parameters you enter.
Keep in mind, most people take an adjustable-rate mortgage expecting to sell the house in a few years or planning to refinance to a fixed rate at some point. Talk to a credit union loan officer for information about your mortgage options.
Assumptions: The calculator shows results for mortgage amounts
only, excluding any up-front fees and points as well as required payments for
property taxes and insurance, and excluding any tax benefits that may result
from itemizing deductions.