There're a few reasons your monthly mortgage payments can change:

You have an escrow account.
The monthly payment may change to reflect increases or decreases in taxes and/or insurance.

You may have a buy-down clause in the terms of your mortgage.
For mortgages that contain a buy-down clause, the monthly payments may vary in their amounts.

Those amounts change over time by increasing the amount by a percentage of the original interest rate, as defined in your mortgage terms.

You have one of the following types of home loans.

• Adjustable-rate mortgages (ARM)
  The interest rate may increase or decrease at a specific time and periodically, as agreed upon when your home loan was opened.
• Construction loans
  The payment amount is based on the current principal balance of the account and will change as additional disbursements are made.
• Interest-only mortgages*
  The payment may change based on the amount of monthly interest charged.

*For interest-only mortgages, you'll have a preset amount of time to pay only the monthly interest charged. When that time is over, monthly payments increase with the addition of principal-only and/or escrow amounts. Review your terms for details.

Additional information about mortgage payments.

To freely explore our digital banking services without using your own account, visit our Digital Banking Simulators page. If you'd like a step-by-step tutorial on how to use a specific service or feature, check out our Digital Explorer page.