Which mortgage is right for you? A fixed-rate mortgage offers the same fixed interest rate for the life of your loan. An adjustable-rate mortgage (ARM) has a low, fixed rate for an initial period, followed by a variable interest rate over the remaining term. You can adjust the inputs below and click the ‘View Report’ button to see how the type of mortgage affects your monthly payment and payment schedule over time.
Information and interactive calculators are made available to you only as self-help tools for your independent use and are not intended to provide investment or tax advice. We cannot and do not guarantee their applicability or accuracy in regards to your individual circumstances. All examples are hypothetical and are for illustrative purposes. We encourage you to seek personalized advice from qualified professionals regarding all personal finance issues.